Cubist Systematic Strategies LLC Trims Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Cubist Systematic Strategies LLC decreased its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,703 shares of the bank’s stock after selling 309 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Southside Bancshares were worth $296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System grew its holdings in shares of Southside Bancshares by 185.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 24,028 shares of the bank’s stock worth $702,000 after purchasing an additional 15,625 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Southside Bancshares by 8.1% during the first quarter. Empowered Funds LLC now owns 65,458 shares of the bank’s stock worth $1,913,000 after purchasing an additional 4,900 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Southside Bancshares by 8.2% during the second quarter. Texas Permanent School Fund Corp now owns 27,224 shares of the bank’s stock worth $752,000 after purchasing an additional 2,074 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Southside Bancshares by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,315 shares of the bank’s stock worth $828,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Southside Bancshares during the second quarter worth about $1,109,000. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Hovde Group increased their price objective on Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Southside Bancshares Stock Performance

Shares of SBSI stock opened at $33.39 on Tuesday. The stock has a fifty day moving average of $32.88 and a 200 day moving average of $29.77. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $36.10. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 12.41 and a beta of 0.54. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44.

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

Southside Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.31%. The ex-dividend date was Thursday, August 22nd. Southside Bancshares’s dividend payout ratio is currently 53.53%.

Insider Buying and Selling at Southside Bancshares

In other Southside Bancshares news, CFO Julie Shamburger sold 5,360 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $35.03, for a total transaction of $187,760.80. Following the completion of the transaction, the chief financial officer now owns 24,327 shares of the company’s stock, valued at approximately $852,174.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Southside Bancshares news, insider T L. Arnold, Jr. sold 3,999 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total transaction of $126,488.37. Following the completion of the transaction, the insider now owns 16,441 shares of the company’s stock, valued at approximately $520,028.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Julie Shamburger sold 5,360 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total value of $187,760.80. Following the transaction, the chief financial officer now owns 24,327 shares of the company’s stock, valued at $852,174.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,890 shares of company stock valued at $500,319. 5.90% of the stock is currently owned by company 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 deposits.