Northern Trust Corp Buys 58,271 Shares of Southside Bancshares, Inc. (SBSI)

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Northern Trust Corp increased its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 10.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 601,257 shares of the bank’s stock after purchasing an additional 58,271 shares during the period. Northern Trust Corp owned 1.71% of Southside Bancshares worth $20,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBSI. SG Americas Securities LLC bought a new stake in shares of Southside Bancshares in the 2nd quarter worth approximately $227,000. BlueMountain Capital Management LLC lifted its holdings in shares of Southside Bancshares by 213.9% in the 2nd quarter. BlueMountain Capital Management LLC now owns 7,117 shares of the bank’s stock worth $240,000 after purchasing an additional 4,850 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Southside Bancshares by 27.4% in the 2nd quarter. US Bancorp DE now owns 8,081 shares of the bank’s stock worth $272,000 after purchasing an additional 1,736 shares during the last quarter. Barclays PLC lifted its holdings in shares of Southside Bancshares by 108.5% in the 1st quarter. Barclays PLC now owns 9,166 shares of the bank’s stock worth $319,000 after purchasing an additional 4,770 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Southside Bancshares by 20.0% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,967 shares of the bank’s stock worth $369,000 after purchasing an additional 1,831 shares during the last quarter. 47.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ SBSI opened at $31.38 on Wednesday. The company has a market capitalization of $1.09 billion, a P/E ratio of 16.60 and a beta of 0.76. Southside Bancshares, Inc. has a 12-month low of $29.28 and a 12-month high of $37.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.75.

Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Friday, October 26th. The bank reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.03). The business had revenue of $54.82 million for the quarter, compared to the consensus estimate of $56.10 million. Southside Bancshares had a net margin of 25.71% and a return on equity of 9.25%. On average, research analysts forecast that Southside Bancshares, Inc. will post 2.23 earnings per share for the current year.

Several analysts recently issued reports on the company. BidaskClub raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $37.00 price target on shares of Southside Bancshares in a report on Friday, July 27th.

In other Southside Bancshares news, COO Brian K. Mccabe sold 1,670 shares of Southside Bancshares stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $36.81, for a total transaction of $61,472.70. Following the sale, the chief operating officer now owns 17,706 shares of the company’s stock, valued at approximately $651,757.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Timothy F. Alexander sold 16,007 shares of Southside Bancshares stock in a transaction on Monday, August 27th. The shares were sold at an average price of $35.36, for a total value of $566,007.52. Following the sale, the insider now directly owns 11,780 shares in the company, valued at approximately $416,540.80. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

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 deposit.

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Institutional Ownership by Quarter for Southside Bancshares (NASDAQ:SBSI)

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