Southside Bancshares, Inc. (NASDAQ:SBSI) Position Trimmed by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,373 shares of the bank’s stock after selling 2,900 shares during the quarter. Public Sector Pension Investment Board owned 0.20% of Southside Bancshares worth $2,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in Southside Bancshares by 54.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock worth $30,000 after buying an additional 387 shares in the last quarter. CWM LLC boosted its position in Southside Bancshares by 447.5% during the second quarter. CWM LLC now owns 3,099 shares of the bank’s stock valued at $86,000 after purchasing an additional 2,533 shares during the last quarter. Quantbot Technologies LP grew its stake in Southside Bancshares by 190.1% in the third quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock valued at $96,000 after purchasing an additional 1,890 shares in the last quarter. FMR LLC increased its position in Southside Bancshares by 226.9% in the 3rd quarter. FMR LLC now owns 3,432 shares of the bank’s stock worth $115,000 after purchasing an additional 2,382 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in Southside Bancshares by 48.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock worth $139,000 after purchasing an additional 1,643 shares during the last quarter. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th.

Southside Bancshares Stock Down 0.4 %

Southside Bancshares stock opened at $34.83 on Friday. The company has a market capitalization of $1.06 billion, a P/E ratio of 12.57 and a beta of 0.56. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-year high of $38.00. The firm’s fifty day simple moving average is $34.11 and its 200-day simple moving average is $31.56. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data 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). The company 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 period in the previous year, the business posted $0.60 earnings per share. Sell-side analysts forecast that Southside Bancshares, Inc. will post 2.98 earnings per share for the current fiscal year.

Southside Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, November 21st. Southside Bancshares’s dividend payout ratio is 51.99%.

Insider Buying and Selling at Southside Bancshares

In other news, CEO Lee R. Gibson sold 3,300 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 directly owns 57,272 shares of the company’s stock, valued at approximately $2,104,173.28. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suni M. Davis sold 2,220 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total transaction of $79,920.00. Following the transaction, the insider now directly owns 9,202 shares in the company, valued at $331,272. This trade 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 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.