New York State Teachers Retirement System Sells 600 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

New York State Teachers Retirement System decreased its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,938 shares of the bank’s stock after selling 600 shares during the quarter. New York State Teachers Retirement System’s holdings in Southside Bancshares were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings in Southside Bancshares by 6.8% during the second quarter. Renaissance Technologies LLC now owns 603,285 shares of the bank’s stock worth $16,657,000 after purchasing an additional 38,500 shares during the last quarter. ProShare Advisors LLC boosted its position in Southside Bancshares by 0.9% in the first quarter. ProShare Advisors LLC now owns 266,202 shares of the bank’s stock worth $7,781,000 after purchasing an additional 2,456 shares during the last quarter. AQR Capital Management LLC grew its stake in Southside Bancshares by 95.8% in the 2nd quarter. AQR Capital Management LLC now owns 238,087 shares of the bank’s stock valued at $6,574,000 after purchasing an additional 116,473 shares during the period. American Century Companies Inc. increased its position in shares of Southside Bancshares by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 168,450 shares of the bank’s stock valued at $4,651,000 after purchasing an additional 1,984 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Southside Bancshares by 8.1% during the 1st quarter. Empowered Funds LLC now owns 65,458 shares of the bank’s stock worth $1,913,000 after purchasing an additional 4,900 shares during the period. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Analyst Ratings Changes

SBSI has been the subject of several research reports. StockNews.com lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Hovde Group increased their target price on shares of Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

Insider Buying and Selling at Southside Bancshares

In other news, insider T L. Arnold, Jr. sold 4,667 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $33.71, for a total value of $157,324.57. Following the completion of the transaction, the insider now directly owns 16,441 shares of the company’s stock, valued at $554,226.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Suni M. Davis sold 2,220 shares of the business’s stock in a transaction that occurred 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 owns 9,202 shares of the company’s stock, valued at approximately $331,272. The trade was 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 accessible through the SEC website. Also, insider T L. Arnold, Jr. sold 4,667 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $33.71, for a total transaction of $157,324.57. Following the sale, the insider now directly owns 16,441 shares in the company, valued at $554,226.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,187 shares of company stock valued at $358,487 in the last 90 days. 5.90% of the stock is currently owned by company insiders.

Southside Bancshares Stock Performance

Shares of SBSI opened at $35.89 on Monday. Southside Bancshares, Inc. has a 1 year low of $25.30 and a 1 year high of $37.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s fifty day moving average price is $33.35 and its two-hundred day moving average price is $30.57. The firm has a market cap of $1.09 billion, a PE ratio of 12.96 and a beta of 0.55.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings data 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 firm had revenue of $113.87 million during the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.60 earnings per share. On average, equities research analysts forecast that Southside Bancshares, Inc. will post 2.98 EPS for the current year.

Southside Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.44 dividend on an annualized basis and a yield of 4.01%. Southside Bancshares’s dividend payout ratio is 51.99%.

Southside Bancshares Company 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.