CWM Advisors LLC Acquires Shares of 7,763 Southside Bancshares, Inc. (NASDAQ:SBSI)

CWM Advisors LLC acquired a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,763 shares of the bank’s stock, valued at approximately $236,000.

Other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in Southside Bancshares by 174.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 763 shares of the bank’s stock valued at $28,000 after acquiring an additional 485 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Southside Bancshares in the 4th quarter valued at $23,380,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Southside Bancshares by 29.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,870 shares of the bank’s stock valued at $87,000 after acquiring an additional 654 shares during the last quarter. SG Americas Securities LLC bought a new position in Southside Bancshares in the 4th quarter valued at $121,000. Finally, Amalgamated Bank bought a new position in Southside Bancshares in the 4th quarter valued at $202,000. 55.38% of the stock is currently owned by institutional investors.

SBSI opened at $26.95 on Friday. Southside Bancshares, Inc. has a 12-month low of $23.74 and a 12-month high of $37.89. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.07. The business’s fifty day simple moving average is $28.63 and its 200-day simple moving average is $33.20. The company has a market capitalization of $891.31 million, a price-to-earnings ratio of 15.17 and a beta of 0.56.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data on Tuesday, May 5th. The bank reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.36). The company had revenue of $62.50 million for the quarter, compared to analysts’ expectations of $54.87 million. Southside Bancshares had a return on equity of 7.56% and a net margin of 20.52%. During the same quarter last year, the company earned $0.56 earnings per share. On average, equities research analysts predict that Southside Bancshares, Inc. will post 1.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Wednesday, May 20th. Southside Bancshares’s dividend payout ratio (DPR) is currently 56.36%.

A number of research firms have recently issued reports on SBSI. SunTrust Banks dropped their price target on Southside Bancshares from $32.00 to $29.00 and set a “hold” rating on the stock in a research report on Tuesday. Zacks Investment Research downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, BidaskClub downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, May 7th.

In related news, insider John Robert Garrett acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of $25.23 per share, for a total transaction of $25,230.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased a total of 3,573 shares of company stock valued at $99,496 over the last 90 days. 5.20% of the stock is currently owned by company insiders.

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 deposit.

Featured Story: Stock Selection – What is cash flow?

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

Receive News & Ratings for Southside Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.