Captrust Financial Advisors Boosts Stock Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Captrust Financial Advisors grew its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,443 shares of the bank’s stock after acquiring an additional 3,186 shares during the period. Captrust Financial Advisors owned 0.13% of Southside Bancshares worth $1,285,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its position in shares of Southside Bancshares by 54.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock worth $30,000 after acquiring an additional 387 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Southside Bancshares by 4.4% during the second quarter. Inspire Investing LLC now owns 12,815 shares of the bank’s stock worth $354,000 after acquiring an additional 538 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Southside Bancshares by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,371 shares of the bank’s stock worth $314,000 after acquiring an additional 570 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Southside Bancshares by 4.0% during the second quarter. Victory Capital Management Inc. now owns 19,310 shares of the bank’s stock worth $533,000 after acquiring an additional 751 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its position in shares of Southside Bancshares by 9.9% during the second quarter. King Luther Capital Management Corp now owns 10,927 shares of the bank’s stock worth $302,000 after acquiring an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Insider Buying and Selling at Southside Bancshares

In other Southside Bancshares news, insider Suni M. Davis sold 2,220 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total transaction of $79,920.00. Following the sale, the insider now owns 9,202 shares in the company, valued at $331,272. This trade represents a 19.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lee R. Gibson sold 3,300 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $36.74, for a total value of $121,242.00. Following the sale, the chief executive officer now owns 57,272 shares in the company, valued at $2,104,173.28. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Southside Bancshares Trading Up 0.1 %

Shares of SBSI stock opened at $34.88 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.70. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00. The company has a market capitalization of $1.06 billion, a PE ratio of 12.59 and a beta of 0.56. The business’s fifty day moving average is $34.15 and its 200 day moving average is $31.63.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. The business had revenue of $113.87 million during the quarter, compared to analysts’ expectations of $68.25 million. During the same quarter last year, the business posted $0.60 EPS. On average, equities research analysts anticipate that Southside Bancshares, Inc. will post 2.98 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were given a dividend of $0.36 per share. The ex-dividend date was Thursday, November 21st. This represents a $1.44 dividend on an annualized basis and a yield of 4.13%. Southside Bancshares’s payout ratio is 51.99%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th.

About Southside Bancshares

Southside Bancshares, Inc operates as the bank holding company for Southside Bank that provides a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Its deposit products include savings, money market, and interest and noninterest bearing checking accounts, as well as certificates of deposits.