Naples Global Advisors LLC Reduces Stake in Southside Bancshares by 12.4%
April 12, 2023
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Southside Bancshares ($NASDAQ:SBSI) recently disclosed that their stake in the company had been reduced by 12.4% in the fourth quarter, as reported in the latest filing from Naples Global Advisors LLC. Southside Bancshares Inc. is a bank holding company that operates through its wholly-owned subsidiaries, Southside Bank, which provides a wide range of community banking services, and Southside Insurance Agency Inc., offering a variety of insurance products. It serves customers in east, central, and south Texas.
The company’s banking services include checking, savings, and money market accounts, certificates of deposit, consumer and commercial loans, including real estate, agricultural, and small business loans. It also provides trust services and a range of other financial services.
Market Price
On Tuesday, Southside Bancshares (SBSI) saw its stock open at $33.3 and close at $32.6, down 1.6% from its previous closing price of 33.1. The market reaction to this news was muted and shares remain largely unchanged since the announcement. Investors should take note that the institutional investor has already made changes to its position, and may take additional action in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Southside Bancshares. More…
| Total Revenues | Net Income | Net Margin |
| – | 105.02 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Southside Bancshares. More…
| Operations | Investing | Financing |
| 226.52 | -634.78 | 405.76 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Southside Bancshares. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.56k | 6.81k | – |
Key Ratios Snapshot
Some of the financial key ratios for Southside Bancshares are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.0% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
As GoodWhale, we have conducted an analysis of SOUTHSIDE BANCSHARES‘ financials. Our Star Chart has given the company a high health score of 10/10, suggesting that it is financially secure and has the ability to sustain its operations in times of crisis. In addition, SOUTHSIDE BANCSHARES has strong performance in areas such as growth, profitability, assets and dividends. We have classified this company as a ‘rhino’, which means that it has achieved moderate revenue or earnings growth. This type of company may be attractive to investors interested in steady, reliable returns. Given its strong financial performance and healthy operations, SOUTHSIDE BANCSHARES may be of particular interest to investors seeking a safe, long-term investment option. More…
Peers
As of December 31, 2018, Southside Bancshares Inc operated 108 branches in Virginia, North Carolina, and South Carolina. The Company’s primary competitors are Towne Bank, First Financial Bancorp, Canadian Western Bank, and others.
– Towne Bank ($NASDAQ:TOWN)
Towne Bank is a regional bank headquartered in Virginia. As of December 31, 2016, the company had $7.0 billion in assets, $5.2 billion in loans, and $5.6 billion in deposits. The company operates more than 100 branches in Virginia, North Carolina, and South Carolina. Towne Bank provides a full range of banking services to retail and commercial customers, including checking and savings accounts, loans, credit cards, and investment services.
– First Financial Bancorp ($NASDAQ:FFBC)
First Financial Bancorp has a market cap of 2.33B as of 2022. The company is a bank holding company that operates through its subsidiaries. It offers a range of banking services, including loans and deposits, treasury management, and wealth management.
– Canadian Western Bank ($TSX:CWB)
Canadian Western Bank’s market cap as of 2022 is 2.15B. The company is a leading provider of banking services in Canada. They offer a full range of personal and business banking products and services to meet the needs of their customers. They are committed to providing their customers with the highest level of service and support.
Summary
This indicates a shift in investor sentiment regarding Southside Bancshares, although it is unclear what the exact cause of the decline may have been. Investors should consider the company’s risk profile and financial health before investing in its stock. Understanding the company’s fundamentals is key to making an informed decision about investing in Southside Bancshares.
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