Public Sector Pension Investment Board Purchases 3,736 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Public Sector Pension Investment Board lifted its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 6.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 63,273 shares of the bank’s stock after purchasing an additional 3,736 shares during the period. Public Sector Pension Investment Board’s holdings in Southside Bancshares were worth $1,747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in shares of Southside Bancshares by 6.8% in the second quarter. Renaissance Technologies LLC now owns 603,285 shares of the bank’s stock worth $16,657,000 after purchasing an additional 38,500 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Southside Bancshares by 0.9% in the first quarter. ProShare Advisors LLC now owns 266,202 shares of the bank’s stock valued at $7,781,000 after acquiring an additional 2,456 shares in the last quarter. American Century Companies Inc. boosted its holdings in Southside Bancshares by 1.2% in the second quarter. American Century Companies Inc. now owns 168,450 shares of the bank’s stock valued at $4,651,000 after acquiring an additional 1,984 shares in the last quarter. Empowered Funds LLC lifted its position in Southside Bancshares by 8.1% during the first quarter. Empowered Funds LLC now owns 65,458 shares of the bank’s stock valued at $1,913,000 after buying an additional 4,900 shares during the period. Finally, Chatham Capital Group Inc. lifted its position in Southside Bancshares by 11.9% during the first quarter. Chatham Capital Group Inc. now owns 49,563 shares of the bank’s stock valued at $1,449,000 after buying an additional 5,275 shares during the period. Institutional investors own 55.70% of the company’s stock.

Insider Transactions at Southside Bancshares

In other news, insider T L. Arnold, Jr. sold 4,667 shares of Southside Bancshares stock in a transaction dated 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 transaction, the insider now owns 16,441 shares of the company’s stock, valued at approximately $554,226.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Southside Bancshares news, insider Jared C. Green sold 864 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $33.27, for a total value of $28,745.28. Following the completion of the transaction, the insider now owns 4,358 shares of the company’s stock, valued at approximately $144,990.66. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider T L. Arnold, Jr. sold 4,667 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 16,441 shares of the company’s stock, valued at approximately $554,226.11. 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 quarter. 5.90% of the stock is owned by insiders.

Southside Bancshares Price Performance

SBSI opened at $33.43 on Tuesday. The stock has a 50-day moving average price of $33.09 and a 200-day moving average price of $29.47. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $1.01 billion, a PE ratio of 12.43 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.

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

Southside Bancshares Announces Dividend

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

Analyst Ratings Changes

Several brokerages have commented on SBSI. StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Hovde Group raised their price objective on Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

About Southside Bancshares

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.