Southside Bancshares, Inc. (NASDAQ:SBSI) Holdings Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 25.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,643 shares of the bank’s stock after selling 24,598 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Southside Bancshares were worth $1,978,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its holdings in shares of Southside Bancshares by 185.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,028 shares of the bank’s stock valued at $702,000 after acquiring an additional 15,625 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Southside Bancshares by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,825 shares of the bank’s stock valued at $11,395,000 after acquiring an additional 15,470 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Southside Bancshares by 8.1% during the 1st quarter. Empowered Funds LLC now owns 65,458 shares of the bank’s stock valued at $1,913,000 after acquiring an additional 4,900 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Southside Bancshares by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,315 shares of the bank’s stock valued at $828,000 after acquiring an additional 1,074 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its holdings in shares of Southside Bancshares by 34.2% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 24,512 shares of the bank’s stock valued at $768,000 after acquiring an additional 6,246 shares in the last quarter. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBSI has been the topic of several research analyst reports. Hovde Group boosted their price target on shares of Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, July 29th. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd.

Southside Bancshares Trading Down 2.9 %

Shares of NASDAQ:SBSI opened at $34.00 on Friday. The stock has a market capitalization of $1.03 billion, a PE ratio of 12.64 and a beta of 0.54. Southside Bancshares, Inc. has a 1 year low of $25.30 and a 1 year high of $36.10. The firm has a fifty day moving average price of $32.82 and a 200 day moving average price of $29.27. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.17. The firm had revenue of $115.74 million during the quarter, compared to analysts’ expectations of $64.91 million. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. During the same period in the prior year, the company posted $0.82 earnings per share. Analysts expect that Southside Bancshares, Inc. will post 2.96 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Thursday, August 22nd. Southside Bancshares’s dividend payout ratio (DPR) is 53.53%.

Insider Buying and Selling at Southside Bancshares

In other Southside Bancshares news, insider T L. Arnold, Jr. sold 3,999 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $31.63, for a total transaction of $126,488.37. Following the completion of the sale, the insider now directly owns 16,441 shares in the company, valued at $520,028.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider T L. Arnold, Jr. sold 4,667 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $33.71, for a total transaction of $157,324.57. Following the completion of the transaction, the insider now owns 16,441 shares of the company’s stock, valued at $554,226.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider T L. Arnold, Jr. sold 3,999 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $31.63, for a total transaction of $126,488.37. Following the transaction, the insider now directly owns 16,441 shares of the company’s stock, valued at approximately $520,028.83. The disclosure for this sale can be found here. Insiders sold 14,890 shares of company stock worth $500,319 over the last ninety days. Company insiders own 5.90% of the company’s stock.

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 deposits.