Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,236 shares of the bank’s stock after selling 656 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Southside Bancshares worth $542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in shares of Southside Bancshares by 54.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock valued at $30,000 after buying an additional 387 shares in the last quarter. CWM LLC grew its stake in Southside Bancshares by 447.5% in the 2nd quarter. CWM LLC now owns 3,099 shares of the bank’s stock valued at $86,000 after acquiring an additional 2,533 shares during the last quarter. EntryPoint Capital LLC increased its holdings in Southside Bancshares by 57.0% during the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock valued at $96,000 after acquiring an additional 1,195 shares in the last quarter. Point72 Asset Management L.P. raised its position in Southside Bancshares by 48.3% during the second quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock worth $139,000 after acquiring an additional 1,643 shares during the last quarter. Finally, Bill Few Associates Inc. purchased a new stake in shares of Southside Bancshares in the third quarter valued at about $222,000. 55.70% of the stock is owned by institutional investors and hedge funds.

Southside Bancshares Stock Performance

NASDAQ:SBSI opened at $35.39 on Friday. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-year high of $37.58. The firm has a market cap of $1.07 billion, a PE ratio of 12.78 and a beta of 0.55. The firm has a 50 day simple moving average of $33.32 and a 200-day simple moving average of $30.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.70 and a quick ratio of 0.70.

Southside Bancshares (NASDAQ:SBSI) last released its earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). The company had revenue of $113.87 million during the quarter, compared to analysts’ expectations of $68.25 million. Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, equities analysts expect that Southside Bancshares, Inc. will post 2.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. StockNews.com cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. Hovde Group boosted their price target on Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

Insider Activity at Southside Bancshares

In other Southside Bancshares news, CEO Lee R. Gibson sold 3,300 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 57,272 shares of the company’s stock, valued at $2,104,173.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Southside Bancshares news, insider Suni M. Davis sold 2,220 shares of the firm’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 transaction, the insider now directly owns 9,202 shares of the company’s stock, valued at $331,272. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lee R. Gibson sold 3,300 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $36.74, for a total transaction of $121,242.00. Following the completion of the sale, the chief executive officer now owns 57,272 shares in the company, valued at approximately $2,104,173.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,187 shares of company stock worth $358,487. 6.10% of the stock is currently owned by corporate insiders.

About Southside Bancshares

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.