Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 35.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,943 shares of the bank’s stock after purchasing an additional 9,693 shares during the quarter. BNP Paribas Financial Markets’ holdings in Southside Bancshares were worth $1,235,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Southside Bancshares by 226.9% during the third quarter. FMR LLC now owns 3,432 shares of the bank’s stock worth $115,000 after buying an additional 2,382 shares during the period. Quantbot Technologies LP lifted its stake in Southside Bancshares by 190.1% in the third quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock worth $96,000 after acquiring an additional 1,890 shares during the last quarter. Intech Investment Management LLC acquired a new position in Southside Bancshares during the 3rd quarter worth approximately $233,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Southside Bancshares by 179.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,341 shares of the bank’s stock valued at $1,181,000 after purchasing an additional 22,687 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Southside Bancshares by 73.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 59,801 shares of the bank’s stock valued at $1,999,000 after purchasing an additional 25,350 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Insiders Place Their Bets

In related news, insider Suni M. Davis sold 2,220 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $36.00, for a total transaction of $79,920.00. Following the completion of the sale, the insider now owns 9,202 shares in the company, valued at $331,272. This represents a 19.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lee R. Gibson sold 3,300 shares of Southside Bancshares stock in a transaction on Wednesday, November 6th. The shares were 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. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th.

Southside Bancshares Price Performance

Shares of NASDAQ SBSI opened at $34.96 on Tuesday. The stock’s 50-day simple moving average is $34.18 and its 200-day simple moving average is $31.72. The firm has a market capitalization of $1.06 billion, a PE ratio of 12.62 and a beta of 0.56. Southside Bancshares, Inc. has a fifty-two week low of $25.30 and a fifty-two week 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.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. The company had revenue of $113.87 million for the quarter, compared to analyst estimates of $68.25 million. During the same period in the previous year, the business posted $0.60 EPS. As a group, equities research analysts forecast that Southside Bancshares, Inc. will post 2.98 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were paid a $0.36 dividend. The ex-dividend date was Thursday, November 21st. This represents a $1.44 annualized dividend and a yield of 4.12%. Southside Bancshares’s dividend payout ratio is presently 51.99%.

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.