Barclays PLC Buys 34,316 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Barclays PLC increased its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 137.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,263 shares of the bank’s stock after buying an additional 34,316 shares during the period. Barclays PLC owned 0.20% of Southside Bancshares worth $1,981,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in shares of Southside Bancshares by 95.8% in the second quarter. AQR Capital Management LLC now owns 238,087 shares of the bank’s stock worth $6,574,000 after purchasing an additional 116,473 shares during the period. Marshall Wace LLP bought a new position in Southside Bancshares in the second quarter valued at $1,109,000. Renaissance Technologies LLC raised its position in Southside Bancshares by 6.8% during the second 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 in the last quarter. Jane Street Group LLC raised its holdings in shares of Southside Bancshares by 119.5% during the 3rd quarter. Jane Street Group LLC now owns 53,571 shares of the bank’s stock valued at $1,791,000 after buying an additional 29,163 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted 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 worth $1,999,000 after acquiring an additional 25,350 shares during the last quarter. Institutional investors own 55.70% of the company’s stock.

Analyst Ratings Changes

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

Southside Bancshares Price Performance

Shares of SBSI stock opened at $32.29 on Friday. The business’s fifty day moving average is $34.40 and its 200 day moving average is $32.30. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.32. The stock has a market cap of $978.65 million, a price-to-earnings ratio of 11.66 and a beta of 0.56. Southside Bancshares, Inc. has a twelve month low of $25.30 and a twelve month high of $38.00.

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

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $1.44 annualized dividend and a dividend yield of 4.46%. Southside Bancshares’s dividend payout ratio (DPR) is presently 51.99%.

Insider Activity

In related news, CEO Lee R. Gibson sold 3,300 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 57,272 shares in the company, valued at approximately $2,104,173.28. The trade was a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Suni M. Davis sold 2,220 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total value of $79,920.00. Following the completion of the transaction, the insider now directly owns 9,202 shares in the company, valued at approximately $331,272. This represents a 19.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.