Texas Permanent School Fund cut its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 7.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,646 shares of the bank’s stock after selling 1,491 shares during the period. Texas Permanent School Fund’s holdings in Southside Bancshares were worth $628,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in SBSI. Raymond James Financial Services Advisors Inc. lifted its position in Southside Bancshares by 589.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 44,369 shares of the bank’s stock worth $1,613,000 after purchasing an additional 37,936 shares during the period. Handelsbanken Fonder AB lifted its position in Southside Bancshares by 7.5% during the third quarter. Handelsbanken Fonder AB now owns 440,000 shares of the bank’s stock worth $15,998,000 after purchasing an additional 30,750 shares during the period. Vanguard Group Inc. lifted its position in Southside Bancshares by 6.2% during the second quarter. Vanguard Group Inc. now owns 1,727,918 shares of the bank’s stock worth $60,373,000 after purchasing an additional 100,282 shares during the period. American Century Companies Inc. lifted its position in Southside Bancshares by 2.4% during the third quarter. American Century Companies Inc. now owns 458,916 shares of the bank’s stock worth $16,686,000 after purchasing an additional 10,762 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in Southside Bancshares by 92.3% during the third quarter. BNP Paribas Arbitrage SA now owns 15,534 shares of the bank’s stock worth $565,000 after purchasing an additional 7,458 shares during the period. Institutional investors and hedge funds own 42.82% of the company’s stock.
SBSI has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Southside Bancshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 8th. ValuEngine raised shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Finally, BidaskClub cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Southside Bancshares currently has a consensus rating of “Hold” and an average price target of $37.33.
Southside Bancshares (NASDAQ:SBSI) last posted its earnings results on Tuesday, February 6th. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). The company had revenue of $47.41 million during the quarter, compared to the consensus estimate of $53.50 million. Southside Bancshares had a return on equity of 9.50% and a net margin of 24.14%. analysts expect that Southside Bancshares, Inc. will post 2.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 22nd will be issued a $0.28 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.21%. Southside Bancshares’s dividend payout ratio (DPR) is currently 61.63%.
In other news, EVP Peter M. Boyd sold 750 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $35.19, for a total value of $26,392.50. Following the completion of the transaction, the executive vice president now owns 3,563 shares of the company’s stock, valued at $125,381.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.20% of the stock is currently owned by corporate insiders.
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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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