Charles Schwab Investment Management Inc. lessened its stake in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 325,599 shares of the bank's stock after selling 31,919 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.07% of Southside Bancshares worth $10,885,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of SBSI. Nisa Investment Advisors LLC lifted its stake in Southside Bancshares by 54.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank's stock worth $30,000 after purchasing an additional 387 shares during the last quarter. CWM LLC increased its stake 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. Point72 Asset Management L.P. raised its holdings in shares of Southside Bancshares by 48.3% during the second 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 period. Bill Few Associates Inc. bought a new position in shares of Southside Bancshares in the 3rd quarter worth about $222,000. Finally, Intech Investment Management LLC acquired a new position in shares of Southside Bancshares in the 3rd quarter valued at about $233,000. Institutional investors own 55.70% of the company's stock.
Insider Buying and Selling at Southside Bancshares
In other Southside Bancshares news, CEO Lee R. Gibson sold 3,300 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total transaction of $121,242.00. Following the completion of the transaction, the chief executive officer now owns 57,272 shares in the company, valued at approximately $2,104,173.28. The trade was a 5.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suni M. Davis sold 2,220 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $36.00, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered shares of Southside Bancshares from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th.
Read Our Latest Report on SBSI
Southside Bancshares Stock Performance
Shares of Southside Bancshares stock traded up $0.59 on Tuesday, reaching $35.55. 42,884 shares of the company were exchanged, compared to its average volume of 115,223. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 12.81 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 company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.70. The company's 50-day moving average is $34.18 and its two-hundred day moving average is $31.72.
Southside Bancshares (NASDAQ:SBSI - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.05). The company had revenue of $113.87 million during the quarter, compared to analyst estimates of $68.25 million. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. During the same period in the prior year, the business earned $0.60 earnings per share. As a group, research analysts expect that Southside Bancshares, Inc. will post 2.98 earnings per share for the current fiscal year.
Southside Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were given a $0.36 dividend. The ex-dividend date was Thursday, November 21st. This represents a $1.44 annualized dividend and a yield of 4.05%. Southside Bancshares's dividend payout ratio is presently 51.99%.
About Southside Bancshares
(
Free Report)
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.
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