Inspire Investing LLC Has $354,000 Stake in Southside Bancshares, Inc. (NASDAQ:SBSI)

Inspire Investing LLC grew its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 4.4% in the second quarter, Holdings Channel reports. The institutional investor owned 12,815 shares of the bank’s stock after purchasing an additional 538 shares during the period. Inspire Investing LLC’s holdings in Southside Bancshares were worth $354,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SBSI. Nisa Investment Advisors LLC raised its holdings in Southside Bancshares by 54.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock valued at $30,000 after acquiring an additional 387 shares in the last quarter. CWM LLC increased its position in shares of Southside Bancshares by 447.5% during the second quarter. CWM LLC now owns 3,099 shares of the bank’s stock valued at $86,000 after purchasing an additional 2,533 shares during the period. EntryPoint Capital LLC raised its stake in shares of Southside Bancshares by 57.0% in the first quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock valued at $96,000 after purchasing an additional 1,195 shares in the last quarter. Commerce Bank bought a new position in Southside Bancshares in the fourth quarter worth $202,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Southside Bancshares during the first quarter worth $233,000. Institutional investors own 55.70% of the company’s stock.

Insider Activity

In related news, CFO Julie Shamburger sold 5,360 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $35.03, for a total transaction of $187,760.80. Following the sale, the chief financial officer now directly owns 24,327 shares in the company, valued at approximately $852,174.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Southside Bancshares news, CFO Julie Shamburger sold 5,360 shares of Southside Bancshares stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $35.03, for a total value of $187,760.80. Following the completion of the transaction, the chief financial officer now owns 24,327 shares in the company, valued at approximately $852,174.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider T L. Arnold, Jr. sold 3,999 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total value of $126,488.37. Following the sale, the insider now owns 16,441 shares in the company, valued at approximately $520,028.83. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,890 shares of company stock worth $500,319. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

SBSI has been the subject of a number of recent research reports. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Hovde Group raised their price target on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Southside Bancshares Stock Performance

Shares of NASDAQ:SBSI opened at $34.00 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. The business’s fifty day moving average price is $32.82 and its two-hundred day moving average price is $29.27. Southside Bancshares, Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $36.10. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 12.64 and a beta of 0.54.

Southside Bancshares (NASDAQ:SBSI) last posted its earnings results on Thursday, July 25th. The bank reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.17. The business had revenue of $115.74 million for the quarter, compared to analyst estimates of $64.91 million. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. During the same quarter in the prior year, the firm earned $0.82 EPS. As a group, analysts predict that Southside Bancshares, Inc. will post 2.96 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend was Thursday, August 22nd. Southside Bancshares’s payout ratio is 53.53%.

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.