King Luther Capital Management Corp Sells 3,030 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

King Luther Capital Management Corp lessened its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 25.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,079 shares of the bank’s stock after selling 3,030 shares during the period. King Luther Capital Management Corp’s holdings in Southside Bancshares were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Aigen Investment Management LP boosted its position in Southside Bancshares by 3.9% during the 3rd quarter. Aigen Investment Management LP now owns 14,709 shares of the bank’s stock valued at $422,000 after acquiring an additional 548 shares in the last quarter. SG Americas Securities LLC raised its holdings in Southside Bancshares by 16.9% in the fourth quarter. SG Americas Securities LLC now owns 7,722 shares of the bank’s stock worth $242,000 after purchasing an additional 1,115 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Southside Bancshares by 11.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,774 shares of the bank’s stock valued at $557,000 after buying an additional 1,834 shares during the last quarter. Bill Few Associates Inc. bought a new stake in shares of Southside Bancshares in the 4th quarter valued at about $203,000. Finally, Polaris Capital Management LLC raised its stake in shares of Southside Bancshares by 17.7% during the 4th quarter. Polaris Capital Management LLC now owns 43,200 shares of the bank’s stock worth $1,353,000 after acquiring an additional 6,500 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors.

Southside Bancshares Stock Down 0.1 %

SBSI stock opened at $26.59 on Friday. The stock has a market capitalization of $805.15 million, a PE ratio of 9.88 and a beta of 0.55. Southside Bancshares, Inc. has a 52 week low of $25.38 and a 52 week high of $34.40. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $27.77 and a 200 day moving average of $29.17.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $0.71 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.04). The company had revenue of $112.48 million for the quarter, compared to analyst estimates of $67.10 million. Southside Bancshares had a return on equity of 10.80% and a net margin of 19.79%. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Sell-side analysts forecast that Southside Bancshares, Inc. will post 2.7 earnings per share for the current year.

Southside Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be given a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 5.42%. Southside Bancshares’s dividend payout ratio is currently 53.53%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO Lee R. Gibson sold 14,897 shares of the firm’s stock in a transaction 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 filing with the SEC, which is available at the SEC website. 5.90% of the stock is owned by corporate insiders.

Southside Bancshares 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.