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Southside Bancshares, Inc. (NASDAQ:SBSI) Stock Holdings Lifted by TD Asset Management Inc.

Defense World · Aug 30, 2022 05:51

TD Asset Management Inc. raised its stake in Southside Bancshares, Inc. (NASDAQ:SBSI – Get Rating) by 10.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,522 shares of the bank's stock after buying an additional 4,100 shares during the period. TD Asset Management Inc. owned approximately 0.13% of Southside Bancshares worth $1,736,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of Southside Bancshares by 79.8% in the fourth quarter. Barclays PLC now owns 74,071 shares of the bank's stock valued at $3,097,000 after buying an additional 32,876 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Southside Bancshares during the 4th quarter worth approximately $28,000. Victory Capital Management Inc. grew its position in Southside Bancshares by 42.6% during the 1st quarter. Victory Capital Management Inc. now owns 303,558 shares of the bank's stock worth $11,896,000 after purchasing an additional 90,754 shares in the last quarter. Bill Few Associates Inc. purchased a new position in Southside Bancshares during the 4th quarter worth approximately $266,000. Finally, Chatham Capital Group Inc. grew its position in Southside Bancshares by 1.4% during the 1st quarter. Chatham Capital Group Inc. now owns 48,328 shares of the bank's stock worth $1,973,000 after purchasing an additional 690 shares in the last quarter. Institutional investors own 51.25% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have weighed in on SBSI. Piper Sandler lowered their price objective on shares of Southside Bancshares to $41.00 in a research report on Monday, July 4th. Stephens lifted their price objective on shares of Southside Bancshares to $43.00 in a research report on Tuesday, July 26th.

Insider Buying and Selling

In related news, insider Cindy Blackstone sold 2,005 shares of the company's stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $39.44, for a total value of $79,077.20. Following the completion of the sale, the insider now directly owns 2,021 shares in the company, valued at $79,708.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.70% of the stock is currently owned by corporate insiders.

Southside Bancshares Trading Down 1.7 %

Southside Bancshares stock opened at $38.03 on Tuesday. The company's fifty day simple moving average is $38.65 and its 200-day simple moving average is $39.55. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.30. Southside Bancshares, Inc. has a 12 month low of $35.44 and a 12 month high of $45.36. The stock has a market cap of $1.22 billion, a P/E ratio of 11.39 and a beta of 0.57.

Southside Bancshares (NASDAQ:SBSI – Get Rating) last posted its quarterly earnings results on Monday, July 25th. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.76 by $0.03. Southside Bancshares had a net margin of 40.84% and a return on equity of 13.17%. During the same quarter in the previous year, the company posted $0.65 EPS. As a group, sell-side analysts forecast that Southside Bancshares, Inc. will post 3.45 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, August 17th. Southside Bancshares's dividend payout ratio is currently 40.72%.

Southside Bancshares Company Profile

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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 deposit.