Texas Permanent School Fund increased its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,204 shares of the bank’s stock after buying an additional 85 shares during the period. Texas Permanent School Fund owned about 0.07% of Southside Bancshares worth $645,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SBSI. Louisiana State Employees Retirement System increased its position in shares of Southside Bancshares by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the bank’s stock valued at $363,000 after buying an additional 300 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Southside Bancshares by 5.0% in the fourth quarter. AQR Capital Management LLC now owns 9,678 shares of the bank’s stock valued at $365,000 after buying an additional 465 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Southside Bancshares by 12.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock valued at $169,000 after buying an additional 576 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Southside Bancshares by 1.3% in the first quarter. Wells Fargo & Company MN now owns 44,845 shares of the bank’s stock valued at $1,506,000 after buying an additional 595 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Southside Bancshares by 52.8% in the first quarter. US Bancorp DE now owns 3,771 shares of the bank’s stock valued at $127,000 after buying an additional 1,303 shares during the last quarter. 50.98% of the stock is owned by institutional investors.
Southside Bancshares, Inc. (NASDAQ:SBSI) opened at 34.93 on Friday. Southside Bancshares, Inc. has a 52 week low of $27.57 and a 52 week high of $38.04. The stock’s 50 day moving average price is $33.91 and its 200 day moving average price is $34.39. The firm has a market capitalization of $1.02 billion, a P/E ratio of 19.10 and a beta of 0.81.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Friday, April 28th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $44.95 million during the quarter, compared to analysts’ expectations of $48.40 million. Southside Bancshares had a return on equity of 10.19% and a net margin of 24.40%. On average, equities analysts expect that Southside Bancshares, Inc. will post $2.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th were issued a $0.2732 dividend. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.24. This represents a $1.09 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Tuesday, May 16th. Southside Bancshares’s dividend payout ratio (DPR) is currently 59.75%.
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Several research analysts have recently weighed in on SBSI shares. Zacks Investment Research downgraded Southside Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.00 target price on shares of Southside Bancshares in a research note on Friday, April 28th. Finally, BidaskClub raised Southside Bancshares from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th.
In related news, Director Alton Cade, Jr. sold 2,950 shares of Southside Bancshares stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $35.31, for a total transaction of $104,164.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tim Carter sold 5,000 shares of Southside Bancshares stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $34.76, for a total value of $173,800.00. Following the transaction, the insider now directly owns 39,752 shares of the company’s stock, valued at $1,381,779.52. The disclosure for this sale can be found here. 17.20% of the stock is owned by company insiders.
Southside Bancshares Company Profile
Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.
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