California Public Employees Retirement System lowered its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,418 shares of the bank’s stock after selling 7,098 shares during the period. California Public Employees Retirement System owned about 0.28% of Southside Bancshares worth $2,733,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of SBSI. SG Americas Securities LLC bought a new stake in Southside Bancshares during the first quarter worth about $102,000. US Bancorp DE increased its stake in Southside Bancshares by 52.8% in the first quarter. US Bancorp DE now owns 3,771 shares of the bank’s stock worth $127,000 after buying an additional 1,303 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Southside Bancshares by 12.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock worth $169,000 after buying an additional 576 shares in the last quarter. Mason Street Advisors LLC increased its stake in Southside Bancshares by 8.3% in the first quarter. Mason Street Advisors LLC now owns 6,203 shares of the bank’s stock worth $208,000 after buying an additional 475 shares in the last quarter. Finally, Dubuque Bank & Trust Co. bought a new stake in Southside Bancshares during the first quarter worth about $236,000. 50.91% of the stock is owned by institutional investors.
Southside Bancshares, Inc. (SBSI) traded up 0.28% during mid-day trading on Friday, reaching $32.21. 91,155 shares of the company’s stock traded hands. The stock has a market capitalization of $945.14 million, a PE ratio of 16.96 and a beta of 0.78. The stock has a 50-day moving average price of $34.52 and a 200-day moving average price of $33.78. Southside Bancshares, Inc. has a 12-month low of $30.15 and a 12-month high of $38.08.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.04. Southside Bancshares had a return on equity of 10.42% and a net margin of 25.30%. The business had revenue of $44.72 million during the quarter, compared to analysts’ expectations of $50.40 million. Equities research analysts expect that Southside Bancshares, Inc. will post $2.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be paid a $0.28 dividend. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Tuesday, August 15th. Southside Bancshares’s dividend payout ratio (DPR) is presently 59.11%.
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A number of analysts have recently issued reports on the stock. BidaskClub downgraded shares of Southside Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.00 price objective on shares of Southside Bancshares in a report on Friday, April 28th. Finally, Zacks Investment Research raised shares of Southside Bancshares from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective for the company in a report on Tuesday, May 9th.
In other news, Director Alton Cade, Jr. sold 2,950 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $35.31, for a total value of $104,164.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tim Carter sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $33.95, for a total transaction of $237,650.00. The disclosure for this sale can be found here. Insiders sold a total of 14,950 shares of company stock valued at $515,615 over the last three months. Corporate insiders own 17.20% of the company’s stock.
About Southside Bancshares
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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