Raymond James Financial Services Advisors Inc. raised its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,433 shares of the bank’s stock after buying an additional 158 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Southside Bancshares were worth $225,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Southside Bancshares by 0.5% in the 2nd quarter. BlackRock Inc. now owns 3,348,158 shares of the bank’s stock valued at $116,987,000 after buying an additional 15,123 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Southside Bancshares by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,727,918 shares of the bank’s stock valued at $60,373,000 after buying an additional 100,282 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Southside Bancshares by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,298,766 shares of the bank’s stock valued at $45,379,000 after buying an additional 82,423 shares during the last quarter. State Street Corp grew its position in shares of Southside Bancshares by 37.0% in the 1st quarter. State Street Corp now owns 912,105 shares of the bank’s stock valued at $30,620,000 after buying an additional 246,458 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Southside Bancshares by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 567,996 shares of the bank’s stock valued at $19,846,000 after buying an additional 23,654 shares during the last quarter. Hedge funds and other institutional investors own 51.43% of the company’s stock.
Shares of Southside Bancshares, Inc. (SBSI) opened at $34.02 on Monday. Southside Bancshares, Inc. has a 52-week low of $31.20 and a 52-week high of $38.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $1,001.33, a PE ratio of 17.84 and a beta of 0.75.
Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Friday, October 27th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). Southside Bancshares had a net margin of 25.70% and a return on equity of 10.32%. The business had revenue of $44.37 million for the quarter, compared to the consensus estimate of $51.00 million. research analysts forecast that Southside Bancshares, Inc. will post 2.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.12 annualized dividend and a dividend yield of 3.29%. Southside Bancshares’s payout ratio is 58.74%.
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In other Southside Bancshares news, COO Brian K. Mccabe sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $33.00, for a total value of $49,500.00. Following the transaction, the chief operating officer now owns 16,658 shares in the company, valued at $549,714. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 17.20% of the stock is currently owned by corporate insiders.
A number of equities research analysts have commented on SBSI shares. BidaskClub lowered Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Zacks Investment Research upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $38.00 target price on shares of Southside Bancshares in a research report on Tuesday, August 29th. Finally, Piper Jaffray Companies assumed coverage on Southside Bancshares in a research report on Friday, September 22nd. They set a “neutral” rating and a $37.00 target price on the stock.
Southside Bancshares 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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