Fisher Asset Management LLC raised its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 44.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,822 shares of the bank’s stock after buying an additional 25,545 shares during the period. Fisher Asset Management LLC owned approximately 0.28% of Southside Bancshares worth $2,894,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Southside Bancshares during the first quarter worth about $102,000. US Bancorp DE raised its stake in shares of 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 during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of 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 during the last quarter. Mason Street Advisors LLC raised its stake in shares of 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 during the last quarter. Finally, Dubuque Bank & Trust Co. purchased a new stake in shares of Southside Bancshares during the first quarter worth $236,000. Institutional investors own 51.41% of the company’s stock.
Southside Bancshares, Inc. (NASDAQ:SBSI) opened at 34.10 on Wednesday. The firm’s 50-day moving average is $34.86 and its 200 day moving average is $33.95. The stock has a market capitalization of $1.00 billion, a P/E ratio of 17.96 and a beta of 0.78. Southside Bancshares, Inc. has a 12 month low of $29.96 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 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.04. The company had revenue of $44.72 million for the quarter, compared to the consensus estimate of $50.40 million. Southside Bancshares had a net margin of 25.30% and a return on equity of 10.42%. On average, equities analysts anticipate that Southside Bancshares, Inc. will post $2.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, August 15th. 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 3.28%. Southside Bancshares’s dividend payout ratio (DPR) is presently 57.52%.
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SBSI has been the topic of several research analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $38.00 price target on shares of Southside Bancshares in a research note on Friday, April 28th. BidaskClub lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Zacks Investment Research upgraded shares of Southside Bancshares from a “hold” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, May 9th.
In other Southside Bancshares news, insider Tim Carter sold 5,000 shares of Southside Bancshares stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $34.76, for a total transaction of $173,800.00. Following the completion of the transaction, the insider now directly owns 39,752 shares of the company’s stock, valued at $1,381,779.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alton Cade, Jr. sold 2,950 shares of Southside Bancshares stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $35.31, for a total value of $104,164.50. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by company insiders.
Southside Bancshares Company 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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