Rhumbline Advisers Sells 1,072 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Rhumbline Advisers decreased its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,893 shares of the bank’s stock after selling 1,072 shares during the period. Rhumbline Advisers owned 0.30% of Southside Bancshares worth $2,510,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Texas Permanent School Fund Corp lifted its holdings in shares of Southside Bancshares by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 25,150 shares of the bank’s stock valued at $735,000 after acquiring an additional 369 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Southside Bancshares by 54.4% in the 2nd 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 period. Price T Rowe Associates Inc. MD raised its position in Southside Bancshares by 3.9% in the 1st 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 during the period. EntryPoint Capital LLC raised its position in Southside Bancshares by 57.0% in the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock worth $96,000 after purchasing an additional 1,195 shares during the period. Finally, Victory Capital Management Inc. raised its position in Southside Bancshares by 11.5% in the 4th quarter. Victory Capital Management Inc. now owns 17,774 shares of the bank’s stock worth $557,000 after purchasing an additional 1,834 shares during the period. Institutional investors own 55.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Hovde Group increased their price objective on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. StockNews.com raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd.

Southside Bancshares Stock Performance

Shares of NASDAQ:SBSI opened at $34.07 on Thursday. The firm has a market cap of $1.03 billion, a PE ratio of 12.67 and a beta of 0.54. The firm’s 50 day simple moving average is $32.58 and its 200-day simple moving average is $29.21. Southside Bancshares, Inc. has a one year low of $25.30 and a one year high of $36.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71.

Southside Bancshares (NASDAQ:SBSI) last issued its 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. The business had revenue of $115.74 million for the quarter, compared to analyst estimates 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 last year, the company posted $0.82 earnings per share. As a group, equities analysts predict that Southside Bancshares, Inc. will post 2.96 EPS for the current year.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Thursday, August 22nd. Southside Bancshares’s dividend payout ratio (DPR) is presently 53.53%.

Insider Transactions at Southside Bancshares

In other news, insider T L. Arnold, Jr. sold 3,999 shares of the firm’s stock in a transaction that occurred on 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 $520,028.83. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider T L. Arnold, Jr. sold 3,999 shares of Southside Bancshares stock in a transaction that occurred on 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 $520,028.83. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider T L. Arnold, Jr. sold 4,667 shares of Southside Bancshares stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $33.71, for a total transaction of $157,324.57. Following the transaction, the insider now directly owns 16,441 shares in the company, valued at $554,226.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,890 shares of company stock valued at $500,319. 5.90% of the stock is currently owned by company insiders.

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.