Southside Bancshares, Inc. (NASDAQ:SBSI) Stock Holdings Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,891 shares of the bank’s stock after selling 480 shares during the period. The Manufacturers Life Insurance Company’s holdings in Southside Bancshares were worth $364,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans grew its stake in shares of Southside Bancshares by 73.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 59,801 shares of the bank’s stock worth $1,999,000 after purchasing an additional 25,350 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Southside Bancshares in the third quarter valued at approximately $285,000. Intech Investment Management LLC acquired a new stake in Southside Bancshares in the third quarter valued at approximately $233,000. Texas Permanent School Fund Corp raised its position in shares of Southside Bancshares by 8.2% in the second quarter. Texas Permanent School Fund Corp now owns 27,224 shares of the bank’s stock valued at $752,000 after purchasing an additional 2,074 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Southside Bancshares in the second quarter valued at approximately $1,109,000. Institutional investors and hedge funds own 55.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th.

Southside Bancshares Trading Down 0.2 %

Shares of SBSI stock opened at $35.16 on Monday. Southside Bancshares, Inc. has a 1 year low of $25.30 and a 1 year high of $38.00. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32. The firm’s fifty day simple moving average is $34.42 and its 200 day simple moving average is $31.97. The firm has a market capitalization of $1.07 billion, a P/E ratio of 12.69 and a beta of 0.56.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. The business had revenue of $113.87 million for the quarter, compared to analyst estimates of $68.25 million. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, sell-side analysts predict that Southside Bancshares, Inc. will post 2.98 EPS for the current year.

Southside Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, November 21st. This represents a $1.44 dividend on an annualized basis and a yield of 4.10%. Southside Bancshares’s dividend payout ratio is currently 51.99%.

Insiders Place Their Bets

In other news, CEO Lee R. Gibson sold 3,300 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $36.74, for a total value of $121,242.00. Following the sale, the chief executive officer now owns 57,272 shares in the company, valued at approximately $2,104,173.28. The trade was a 5.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suni M. Davis sold 2,220 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $36.00, for a total transaction of $79,920.00. Following the completion of the sale, the insider now owns 9,202 shares in the company, valued at $331,272. This represents a 19.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Southside Bancshares Profile

Southside Bancshares, Inc operates as the bank holding company for Southside Bank that provides a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Its deposit products include savings, money market, and interest and noninterest bearing checking accounts, as well as certificates of deposits.