Chatham Capital Group Inc. Increases Stake in Southside Bancshares, Inc. (NASDAQ:SBSI)

Chatham Capital Group Inc. lifted its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 11.9% during the 1st quarter, HoldingsChannel reports. The fund owned 49,563 shares of the bank’s stock after acquiring an additional 5,275 shares during the period. Chatham Capital Group Inc.’s holdings in Southside Bancshares were worth $1,449,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SBSI. Charles Schwab Investment Management Inc. lifted its holdings in shares of Southside Bancshares by 7.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 348,355 shares of the bank’s stock worth $9,998,000 after acquiring an additional 23,219 shares during the period. Dark Forest Capital Management LP acquired a new stake in Southside Bancshares during the 3rd quarter worth approximately $409,000. Trexquant Investment LP increased its position in Southside Bancshares by 49.1% during the 3rd quarter. Trexquant Investment LP now owns 20,445 shares of the bank’s stock worth $587,000 after purchasing an additional 6,735 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Southside Bancshares during the 3rd quarter worth approximately $334,000. Finally, SG Americas Securities LLC increased its position in Southside Bancshares by 16.9% during the 4th 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. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

Southside Bancshares Stock Up 3.3 %

NASDAQ:SBSI traded up $0.87 during trading hours on Friday, hitting $27.61. The stock had a trading volume of 391,787 shares, compared to its average volume of 106,601. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.78. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-year high of $34.40. The business has a 50 day simple moving average of $26.95 and a two-hundred day simple moving average of $28.73. The company has a market cap of $836.03 million, a PE ratio of 10.26 and a beta of 0.54.

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

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend was Wednesday, May 22nd. Southside Bancshares’s dividend payout ratio (DPR) is 53.53%.

Analysts Set New Price Targets

A number of analysts recently issued reports on SBSI shares. Hovde Group dropped their target price on shares of Southside Bancshares from $35.00 to $31.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th. StockNews.com raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, June 21st.

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.