Barclays PLC Acquires 34,316 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Barclays PLC raised its position in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 137.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,263 shares of the bank's stock after purchasing an additional 34,316 shares during the quarter. Barclays PLC owned approximately 0.20% of Southside Bancshares worth $1,981,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Inspire Investing LLC raised its holdings in shares of Southside Bancshares by 4.4% during the 2nd quarter. Inspire Investing LLC now owns 12,815 shares of the bank's stock valued at $354,000 after purchasing an additional 538 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Southside Bancshares by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,371 shares of the bank's stock worth $314,000 after buying an additional 570 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Southside Bancshares by 4.0% during the second quarter. Victory Capital Management Inc. now owns 19,310 shares of the bank's stock valued at $533,000 after buying an additional 751 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Southside Bancshares by 9.9% in the second quarter. King Luther Capital Management Corp now owns 10,927 shares of the bank's stock worth $302,000 after buying an additional 980 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Southside Bancshares by 50.8% during the 3rd quarter. CWM LLC now owns 4,673 shares of the bank's stock worth $156,000 after acquiring an additional 1,574 shares in the last quarter. Hedge funds and other institutional investors own 55.70% of the company's stock.

Insider Activity

In other Southside Bancshares news, insider Suni M. Davis sold 2,220 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total value of $79,920.00. Following the completion of the transaction, the insider now owns 9,202 shares of the company's stock, valued at $331,272. This represents a 19.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lee R. Gibson sold 3,300 shares of Southside Bancshares 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 sale, the chief executive officer now directly owns 57,272 shares in the company, valued at $2,104,173.28. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Southside Bancshares Stock Performance

Shares of NASDAQ SBSI traded down $0.48 during trading hours on Friday, hitting $31.81. 80,708 shares of the stock were exchanged, compared to its average volume of 118,624. Southside Bancshares, Inc. has a one year low of $25.30 and a one year high of $38.00. The company's 50 day moving average is $34.35 and its 200 day moving average is $32.30. 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 firm has a market capitalization of $964.10 million, a P/E ratio of 11.48 and a beta of 0.56.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last released its quarterly earnings results 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). Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. The firm had revenue of $113.87 million for the quarter, compared to the consensus estimate of $68.25 million. During the same quarter last year, the company earned $0.60 earnings per share. On average, research analysts expect that Southside Bancshares, Inc. will post 2.98 EPS for the current year.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.53%. Southside Bancshares's dividend payout ratio (DPR) is presently 51.99%.

Analysts Set New Price Targets

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

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 deposits.