Hennion & Walsh Asset Management Inc. Sells 333 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Hennion & Walsh Asset Management Inc. lowered its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,288 shares of the bank’s stock after selling 333 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Southside Bancshares were worth $611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Southside Bancshares by 95.8% in the 2nd quarter. AQR Capital Management LLC now owns 238,087 shares of the bank’s stock worth $6,574,000 after acquiring an additional 116,473 shares during the last quarter. Marshall Wace LLP purchased a new position in Southside Bancshares during the 2nd quarter valued at about $1,109,000. Renaissance Technologies LLC raised its position in Southside Bancshares by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 603,285 shares of the bank’s stock valued at $16,657,000 after purchasing an additional 38,500 shares during the last quarter. Quest Partners LLC lifted its holdings in Southside Bancshares by 835.1% in the 2nd quarter. Quest Partners LLC now owns 23,826 shares of the bank’s stock worth $658,000 after buying an additional 21,278 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Southside Bancshares by 185.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,028 shares of the bank’s stock worth $702,000 after buying an additional 15,625 shares during the last quarter. Institutional investors own 55.70% of the company’s stock.

Southside Bancshares Stock Up 1.1 %

SBSI stock opened at $32.85 on Tuesday. Southside Bancshares, Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $36.10. The company has a market capitalization of $994.37 million, a price-to-earnings ratio of 11.86 and a beta of 0.54. The business’s 50 day moving average price is $33.28 and its two-hundred day moving average price is $30.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.78 and a current ratio of 0.78.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly 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 firm had revenue of $113.87 million for the quarter, compared to the consensus estimate of $68.25 million. Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, analysts forecast that Southside Bancshares, Inc. will post 2.96 earnings per share for the current fiscal year.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were paid a $0.36 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $1.44 annualized dividend and a dividend yield of 4.38%. Southside Bancshares’s payout ratio is 51.99%.

Analysts Set New Price Targets

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

Insider Activity at Southside Bancshares

In other Southside Bancshares news, CFO Julie Shamburger sold 5,360 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total value of $187,760.80. Following the sale, the chief financial officer now owns 24,327 shares in the company, valued at approximately $852,174.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Julie Shamburger sold 5,360 shares of Southside Bancshares stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 directly owns 24,327 shares in the company, valued at approximately $852,174.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider T L. Arnold, Jr. sold 4,667 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $33.71, for a total value of $157,324.57. Following the completion of the sale, the insider now owns 16,441 shares in the company, valued at $554,226.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,890 shares of company stock valued at $500,319 in the last three months. Company insiders own 6.10% of the company’s stock.

Southside Bancshares Company 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.