Southside Bancshares, Inc. (SBSI) Stake Increased by Wells Fargo & Company MN

Wells Fargo & Company MN grew its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 25.0% in the third quarter, Holdings Channel reports. The fund owned 78,925 shares of the bank’s stock after acquiring an additional 15,802 shares during the period. Wells Fargo & Company MN’s holdings in Southside Bancshares were worth $2,871,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SBSI. Catalyst Capital Advisors LLC increased its stake in shares of Southside Bancshares by 111.4% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 3,799 shares of the bank’s stock valued at $138,000 after acquiring an additional 2,002 shares during the last quarter. Bbva Compass Bancshares Inc. bought a new stake in shares of Southside Bancshares in the 3rd quarter valued at about $204,000. Piedmont Investment Advisors LLC bought a new stake in shares of Southside Bancshares in the 2nd quarter valued at about $205,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Southside Bancshares by 2.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,433 shares of the bank’s stock valued at $225,000 after acquiring an additional 158 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Southside Bancshares in the 3rd quarter valued at about $255,000. 43.21% of the stock is owned by institutional investors.

Southside Bancshares, Inc. (SBSI) opened at $35.62 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.62 and a quick ratio of 0.62. Southside Bancshares, Inc. has a 12-month low of $31.20 and a 12-month high of $37.97. The stock has a market capitalization of $1,030.00, a P/E ratio of 18.65 and a beta of 0.76.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data on Friday, October 27th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.05). Southside Bancshares had a net margin of 25.70% and a return on equity of 10.32%. The business had revenue of $44.37 million during the quarter, compared to analyst estimates of $51.00 million. research analysts anticipate that Southside Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

In related news, Director Michael J. Bosworth sold 4,512 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $33.94, for a total value of $153,137.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter M. Boyd sold 750 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $35.19, for a total value of $26,392.50. Following the completion of the transaction, the executive vice president now owns 3,563 shares of the company’s stock, valued at $125,381.97. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by insiders.

SBSI has been the subject of a number of recent analyst reports. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. ValuEngine raised Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. BidaskClub cut Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, December 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 price target on shares of Southside Bancshares in a research note on Tuesday, October 3rd. Finally, Piper Jaffray Companies started coverage on Southside Bancshares in a research report on Friday, September 22nd. They issued a “neutral” rating and a $37.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Southside Bancshares currently has a consensus rating of “Hold” and an average target price of $37.33.

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Southside Bancshares Profile

Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.

Want to see what other hedge funds are holding SBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southside Bancshares, Inc. (NASDAQ:SBSI).

Institutional Ownership by Quarter for Southside Bancshares (NASDAQ:SBSI)

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