Walthausen & Co. LLC bought a new position in Southside Bancshares, Inc. (NASDAQ:SBSI) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 322,443 shares of the bank’s stock, valued at approximately $11,221,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in Southside Bancshares by 14.9% in the 3rd quarter. BlackRock Inc. now owns 4,748,325 shares of the bank’s stock valued at $165,242,000 after buying an additional 615,584 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Southside Bancshares by 11.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,543,001 shares of the bank’s stock valued at $51,968,000 after buying an additional 161,364 shares during the last quarter. Millennium Management LLC increased its stake in Southside Bancshares by 120.8% in the 2nd quarter. Millennium Management LLC now owns 276,395 shares of the bank’s stock valued at $9,309,000 after buying an additional 151,240 shares during the last quarter. Citadel Advisors LLC increased its stake in Southside Bancshares by 134.3% in the 2nd quarter. Citadel Advisors LLC now owns 124,333 shares of the bank’s stock valued at $4,188,000 after buying an additional 71,257 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Southside Bancshares by 10.7% in the 2nd quarter. Northern Trust Corp now owns 601,257 shares of the bank’s stock valued at $20,251,000 after buying an additional 58,271 shares during the last quarter. Institutional investors own 50.28% of the company’s stock.
In other news, COO Brian K. Mccabe sold 1,670 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $36.81, for a total transaction of $61,472.70. Following the completion of the transaction, the chief operating officer now directly owns 17,706 shares of the company’s stock, valued at approximately $651,757.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tony K. Morgan bought 2,000 shares of Southside Bancshares stock in a transaction dated Tuesday, October 30th. The shares were bought at an average cost of $31.15 per share, with a total value of $62,300.00. The disclosure for this purchase can be found here. Insiders have bought a total of 2,134 shares of company stock valued at $66,617 over the last three months. Insiders own 6.10% of the company’s stock.
SBSI has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. BidaskClub lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th.
NASDAQ:SBSI opened at $32.69 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 17.30 and a beta of 0.84. Southside Bancshares, Inc. has a 52 week low of $29.28 and a 52 week high of $37.54.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Friday, October 26th. The bank reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.03). The firm had revenue of $54.82 million during the quarter, compared to analysts’ expectations of $56.10 million. Southside Bancshares had a net margin of 25.71% and a return on equity of 9.25%. Equities analysts forecast that Southside Bancshares, Inc. will post 2.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Thursday, November 22nd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Tuesday, November 20th. Southside Bancshares’s dividend payout ratio is currently 63.49%.
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 deposit.
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