Victory Capital Management Inc. Purchases 1,834 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Victory Capital Management Inc. boosted its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,774 shares of the bank’s stock after acquiring an additional 1,834 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Southside Bancshares worth $557,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Southside Bancshares by 7.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 348,355 shares of the bank’s stock valued at $9,998,000 after acquiring an additional 23,219 shares during the last quarter. Alps Advisors Inc. bought a new position in Southside Bancshares in the third quarter valued at $334,000. Sowell Financial Services LLC bought a new position in Southside Bancshares in the fourth quarter valued at $530,000. Bill Few Associates Inc. bought a new position in Southside Bancshares in the fourth quarter valued at $203,000. Finally, SG Americas Securities LLC increased its stake in Southside Bancshares by 16.9% in the fourth quarter. SG Americas Securities LLC now owns 7,722 shares of the bank’s stock valued at $242,000 after acquiring an additional 1,115 shares during the last quarter. Institutional investors own 55.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group reduced their target price on Southside Bancshares from $35.00 to $31.00 and set a “market perform” rating on the stock in a research note on Thursday, May 9th.

Southside Bancshares Price Performance

SBSI stock opened at $26.61 on Friday. Southside Bancshares, Inc. has a 1 year low of $25.38 and a 1 year high of $34.40. The company has a market cap of $805.75 million, a P/E ratio of 9.89 and a beta of 0.55. The firm has a 50-day moving average of $27.79 and a 200 day moving average of $29.19. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.73.

Southside Bancshares (NASDAQ:SBSI) last released 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 company had revenue of $112.48 million during the quarter, compared to the consensus estimate of $67.10 million. During the same period in the previous year, the company earned $0.84 earnings per share. On average, sell-side analysts forecast that Southside Bancshares, Inc. will post 2.7 EPS for the current year.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Wednesday, May 22nd. Southside Bancshares’s dividend payout ratio is 53.53%.

Insider Buying and Selling at Southside Bancshares

In other Southside Bancshares news, CEO Lee R. Gibson sold 14,897 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $30.27, for a total transaction of $450,932.19. Following the completion of the transaction, the chief executive officer now owns 56,491 shares of the company’s stock, valued at $1,709,982.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.90% of the company’s stock.

Southside Bancshares Company Profile

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.