BNP Paribas Arbitrage SA grew its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 60.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,076 shares of the bank’s stock after buying an additional 3,052 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Southside Bancshares were worth $282,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Oxford Asset Management purchased a new position in Southside Bancshares during the 1st quarter worth $746,000. Victory Capital Management Inc. purchased a new position in Southside Bancshares during the 1st quarter worth $555,000. Bank of America Corp DE raised its position in Southside Bancshares by 70.3% during the 1st quarter. Bank of America Corp DE now owns 46,138 shares of the bank’s stock worth $1,549,000 after buying an additional 19,051 shares during the last quarter. Karp Capital Management Corp purchased a new position in Southside Bancshares during the 1st quarter worth $480,000. Finally, Parametric Portfolio Associates LLC raised its position in Southside Bancshares by 13.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 32,064 shares of the bank’s stock worth $1,076,000 after buying an additional 3,708 shares during the last quarter. Institutional investors own 51.45% of the company’s stock.
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Southside Bancshares, Inc. (NASDAQ SBSI) opened at 33.91 on Thursday. Southside Bancshares, Inc. has a one year low of $30.47 and a one year high of $38.08. The stock has a market cap of $995.02 million, a P/E ratio of 17.86 and a beta of 0.78. The stock has a 50 day moving average of $33.03 and a 200-day moving average of $33.55.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Friday, July 28th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $44.72 million during the quarter, compared to analyst estimates of $50.40 million. Southside Bancshares had a return on equity of 10.42% and a net margin of 25.30%. Analysts anticipate that Southside Bancshares, Inc. will post $2.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.12 annualized dividend and a yield of 3.30%. This is an increase from Southside Bancshares’s previous quarterly dividend of $0.27. Southside Bancshares’s dividend payout ratio is presently 59.11%.
A number of brokerages have recently issued reports on SBSI. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 price target on shares of Southside Bancshares in a report on Tuesday, August 29th. Zacks Investment Research upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, BidaskClub downgraded shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, July 16th.
In related news, COO Brian K. Mccabe sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $33.00, for a total value of $49,500.00. Following the completion of the sale, the chief operating officer now owns 16,658 shares of the company’s stock, valued at $549,714. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tim Carter sold 7,000 shares of the company’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. 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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