Thrivent Financial for Lutherans Acquires Southside Bancshares, Inc. (NASDAQ:SBSI) Shares

Thrivent Financial for Lutherans has been actively investing in Southside Bancshares, Inc. (NASDAQ:SBSI) lately, increasing its stake by a significant 73.6% in the third quarter, as reported in their recent filing with the Securities and Exchange Commission (SEC). This move added 25,350 shares to their portfolio, bringing their total ownership to 59,801 shares valued at $1,999,000 based on the most recent SEC filing.

And they’re not alone – other institutional investors and hedge funds have also been adjusting their positions in Southside Bancshares. For example, Nisa Investment Advisors LLC saw a 54.4% growth in their holdings, CWM LLC saw theirs surge by 447.5%, and Point72 Asset Management L.P. saw a 48.3% increase – among others.

When it comes to performance, Southside Bancshares shares opened at $35.21 on the market recently, with stable moving averages and a reasonable market cap. The company’s financial health has been on public display with its latest earnings report showing results just shy of analyst expectations, but still maintaining solid revenue figures.

In more good news for investors, Southside Bancshares also just announced that they will be paying out a quarterly dividend soon. Shareholders set to receive $0.36 per share, giving them a dividend yield of 4.09% on an annualized basis. This is part of the company’s ongoing strategy to share its success with its shareholders.

There has also been some recent insider trading activity at Southside Bancshares, with CEO Lee R. Gibson and insider Suni M. Davis both selling shares. It’s always interesting to note these movements and consider their potential impact on the company’s future direction.

Looking ahead, analysts are forecasting promising earnings expectations for Southside Bancshares, projecting that they will post an EPS of 2.98 for the current fiscal year. This positive outlook, combined with recent investment activities and dividend announcements, makes Southside Bancshares an intriguing stock to watch for both seasoned and new investors alike.