Solutions 4 Wealth Ltd Purchases Shares of 24,242 Southside Bancshares, Inc. (NASDAQ:SBSI)

Solutions 4 Wealth Ltd bought a new stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,242 shares of the bank’s stock, valued at approximately $759,000. Southside Bancshares accounts for about 2.5% of Solutions 4 Wealth Ltd’s holdings, making the stock its 13th largest holding. Solutions 4 Wealth Ltd owned 0.08% of Southside Bancshares as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Southside Bancshares during the third quarter valued at approximately $190,000. Bill Few Associates Inc. bought a new position in Southside Bancshares in the 4th quarter worth approximately $203,000. Los Angeles Capital Management LLC bought a new stake in Southside Bancshares in the 3rd quarter valued at $258,000. Alps Advisors Inc. purchased a new stake in shares of Southside Bancshares in the third quarter worth about $334,000. Finally, Dark Forest Capital Management LP purchased a new stake in Southside Bancshares during the third quarter valued at $409,000. 55.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Southside Bancshares

In other news, CEO Lee R. Gibson sold 14,897 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $30.27, for a total value of $450,932.19. Following the sale, the chief executive officer now owns 56,491 shares in the company, valued at $1,709,982.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is owned by insiders.

Southside Bancshares Trading Up 1.9 %

NASDAQ:SBSI traded up $0.52 during midday trading on Thursday, hitting $27.57. 71,499 shares of the company traded hands, compared to its average volume of 129,599. Southside Bancshares, Inc. has a 12-month low of $25.38 and a 12-month high of $34.40. The firm has a market capitalization of $834.82 million, a P/E ratio of 10.06 and a beta of 0.55. The company has a current ratio of 0.73, a quick ratio of 0.76 and a debt-to-equity ratio of 0.78. The firm’s fifty day moving average is $28.13 and its 200-day moving average is $29.21.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.04). Southside Bancshares had a return on equity of 10.80% and a net margin of 19.79%. The business had revenue of $112.48 million for the quarter, compared to the consensus estimate of $67.10 million. During the same period in the prior year, the business posted $0.84 earnings per share. On average, sell-side analysts predict that Southside Bancshares, Inc. will post 2.74 EPS for the current year.

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.