Third Avenue Management LLC decreased its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 198,385 shares of the bank’s stock after selling 5,685 shares during the quarter. Third Avenue Management LLC owned 0.68% of Southside Bancshares worth $7,214,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Southside Bancshares by 52,413.5% in the first quarter. BlackRock Inc. now owns 3,333,035 shares of the bank’s stock worth $111,890,000 after purchasing an additional 3,326,688 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Southside Bancshares by 26.7% in the first quarter. Vanguard Group Inc. now owns 1,627,636 shares of the bank’s stock worth $54,640,000 after purchasing an additional 343,015 shares during the last quarter. State Street Corp boosted its holdings in Southside Bancshares by 37.0% in the first quarter. State Street Corp now owns 912,105 shares of the bank’s stock worth $30,620,000 after purchasing an additional 246,458 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Southside Bancshares by 14.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,216,343 shares of the bank’s stock worth $40,833,000 after purchasing an additional 153,221 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in Southside Bancshares by 20.4% in the second quarter. Handelsbanken Fonder AB now owns 409,250 shares of the bank’s stock worth $14,299,000 after purchasing an additional 69,250 shares during the last quarter. Hedge funds and other institutional investors own 51.43% of the company’s stock.
In other Southside Bancshares news, COO Brian K. Mccabe sold 1,500 shares of Southside Bancshares stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $33.00, for a total value of $49,500.00. Following the sale, the chief operating officer now directly owns 16,658 shares in the company, valued at approximately $549,714. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.20% of the company’s stock.
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Shares of Southside Bancshares, Inc. (SBSI) opened at $34.46 on Wednesday. The company has a market cap of $1,010.00, a price-to-earnings ratio of 17.84 and a beta of 0.75. Southside Bancshares, Inc. has a 52-week low of $31.20 and a 52-week high of $38.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.62 and a current ratio of 0.62.
Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings data on Friday, October 27th. The bank reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.05). The firm had revenue of $44.37 million for the quarter, compared to the consensus estimate of $51.00 million. Southside Bancshares had a net margin of 25.70% and a return on equity of 10.32%. analysts anticipate that Southside Bancshares, Inc. will post 2.02 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.12 dividend on an annualized basis and a yield of 3.25%. Southside Bancshares’s dividend payout ratio is currently 58.64%.
Several brokerages recently issued reports on SBSI. Zacks Investment Research cut shares of Southside Bancshares from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.00 price target on shares of Southside Bancshares in a research report on Tuesday, October 3rd. Piper Jaffray Companies started coverage on shares of Southside Bancshares in a research report on Friday, September 22nd. They issued a “neutral” rating and a $37.00 price target on the stock. Finally, BidaskClub downgraded shares of Southside Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th.
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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