Sanctuary Advisors LLC Purchases New Shares in Southside Bancshares, Inc. (NASDAQ:SBSI)

Sanctuary Advisors LLC acquired a new position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,207 shares of the bank’s stock, valued at approximately $511,000.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Southside Bancshares by 0.5% during the third quarter. Geode Capital Management LLC now owns 671,666 shares of the bank’s stock worth $22,458,000 after purchasing an additional 3,097 shares during the last quarter. Barclays PLC boosted its stake in shares of Southside Bancshares by 137.6% in the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank’s stock worth $1,981,000 after buying an additional 34,316 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Southside Bancshares by 119.5% in the third quarter. Jane Street Group LLC now owns 53,571 shares of the bank’s stock valued at $1,791,000 after acquiring an additional 29,163 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Southside Bancshares during the third quarter valued at approximately $276,000. Finally, Point72 DIFC Ltd bought a new stake in Southside Bancshares during the third quarter worth $83,000. Institutional investors own 55.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Southside Bancshares

In related news, CEO Lee R. Gibson sold 3,300 shares of Southside Bancshares stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $36.74, for a total value of $121,242.00. Following the completion of the transaction, the chief executive officer now directly owns 57,272 shares in the company, valued at approximately $2,104,173.28. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suni M. Davis sold 2,220 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $36.00, for a total transaction of $79,920.00. Following the sale, the insider now directly owns 9,202 shares in the company, valued at $331,272. The trade was a 19.44 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Southside Bancshares Stock Up 0.9 %

SBSI opened at $32.29 on Thursday. Southside Bancshares, Inc. has a twelve month low of $25.30 and a twelve month high of $38.00. The company’s 50-day moving average price is $34.45 and its two-hundred day moving average price is $32.30. The stock has a market cap of $978.65 million, a price-to-earnings ratio of 11.66 and a beta of 0.56. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.32.

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

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.46%. The ex-dividend date was Thursday, November 21st. Southside Bancshares’s dividend payout ratio (DPR) is currently 51.99%.

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.