Arizona State Retirement System boosted its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,190 shares of the bank’s stock after acquiring an additional 346 shares during the period. Arizona State Retirement System’s holdings in Southside Bancshares were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Southside Bancshares during the first quarter valued at approximately $102,000. US Bancorp DE lifted its position in Southside Bancshares by 52.8% during the first quarter. US Bancorp DE now owns 3,771 shares of the bank’s stock valued at $127,000 after acquiring an additional 1,303 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Southside Bancshares by 12.9% during the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock valued at $169,000 after acquiring an additional 576 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Southside Bancshares by 85.3% during the second quarter. State of Alaska Department of Revenue now owns 5,428 shares of the bank’s stock valued at $189,000 after acquiring an additional 2,498 shares during the last quarter. Finally, Mason Street Advisors LLC lifted its position in Southside Bancshares by 8.3% during the first quarter. Mason Street Advisors LLC now owns 6,203 shares of the bank’s stock valued at $208,000 after acquiring an additional 475 shares during the last quarter. 51.45% of the stock is owned by institutional investors.
Southside Bancshares, Inc. (NASDAQ:SBSI) opened at 32.96 on Friday. The stock has a market cap of $967.15 million, a PE ratio of 17.36 and a beta of 0.78. Southside Bancshares, Inc. has a 12-month low of $30.47 and a 12-month high of $38.08. The firm has a 50 day moving average of $33.19 and a 200-day moving average of $33.59.
Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, July 28th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Southside Bancshares had a net margin of 25.30% and a return on equity of 10.42%. The company had revenue of $44.72 million during the quarter, compared to analyst estimates of $50.40 million. On average, analysts expect that Southside Bancshares, Inc. will post $2.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were issued a $0.28 dividend. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, August 15th. This represents a $1.12 annualized dividend and a dividend yield of 3.40%. Southside Bancshares’s dividend payout ratio is presently 59.11%.
A number of equities research analysts recently commented on SBSI shares. Keefe, Bruyette & Woods reissued a “hold” rating and set a $38.00 target price on shares of Southside Bancshares in a research report on Tuesday, August 29th. Zacks Investment Research raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, BidaskClub cut shares of Southside Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th.
In other news, insider Tim Carter sold 7,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $33.95, for a total value of $237,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian K. Mccabe sold 1,500 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $33.00, for a total transaction of $49,500.00. Following the completion of the transaction, the chief operating officer now owns 16,658 shares of the company’s stock, valued at approximately $549,714. 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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