SG Americas Securities LLC Purchases Shares of 8,522 Southside Bancshares, Inc. (NASDAQ:SBSI)

SG Americas Securities LLC acquired a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,522 shares of the bank’s stock, valued at approximately $285,000.

Several other large investors also recently modified their holdings of the stock. Texas Permanent School Fund Corp grew its stake 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 purchasing an additional 369 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Southside Bancshares by 54.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock valued at $30,000 after purchasing an additional 387 shares during the period. Inspire Investing LLC grew its stake in shares of Southside Bancshares by 4.4% in the 2nd quarter. Inspire Investing LLC now owns 12,815 shares of the bank’s stock valued at $354,000 after purchasing an additional 538 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Southside Bancshares by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,371 shares of the bank’s stock valued at $314,000 after purchasing an additional 570 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Southside Bancshares by 4.0% in the 2nd quarter. Victory Capital Management Inc. now owns 19,310 shares of the bank’s stock valued at $533,000 after purchasing an additional 751 shares during the period. 55.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SBSI shares. StockNews.com lowered Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Hovde Group increased their price target on Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

Southside Bancshares Stock Down 1.9 %

NASDAQ SBSI opened at $34.33 on Monday. The firm has a market cap of $1.04 billion, a PE ratio of 12.76 and a beta of 0.54. Southside Bancshares, Inc. has a one year low of $25.30 and a one year high of $36.10. The stock’s 50 day simple moving average is $33.12 and its 200 day simple moving average is $29.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71.

Southside Bancshares (NASDAQ:SBSI) last released 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. The business had revenue of $115.74 million for 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 period in the prior year, the company earned $0.82 EPS. As a group, sell-side analysts forecast that Southside Bancshares, Inc. will post 2.96 earnings per share for the current fiscal 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 $0.36 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 4.19%. Southside Bancshares’s payout ratio is 53.53%.

Insider Buying and Selling at Southside Bancshares

In other Southside Bancshares news, CFO Julie Shamburger sold 5,360 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $35.03, for a total value of $187,760.80. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Southside Bancshares news, CFO Julie Shamburger sold 5,360 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $35.03, for a total value of $187,760.80. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider T L. Arnold, Jr. sold 4,667 shares of the stock in a transaction on Friday, August 23rd. The shares were 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 in the company, valued at $554,226.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,890 shares of company stock worth $500,319. Insiders own 5.90% of the company’s stock.

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.