Hennion & Walsh Asset Management Inc. Has $511,000 Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Hennion & Walsh Asset Management Inc. reduced its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,101 shares of the bank’s stock after selling 2,187 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.05% of Southside Bancshares worth $511,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SBSI. JPMorgan Chase & Co. boosted its holdings in shares of Southside Bancshares by 79.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank’s stock worth $12,876,000 after acquiring an additional 170,287 shares in the last quarter. AQR Capital Management LLC raised its position in Southside Bancshares by 95.8% in the 2nd 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 last quarter. Marshall Wace LLP bought a new position in Southside Bancshares in the 2nd quarter worth approximately $1,109,000. Barclays PLC raised its position in Southside Bancshares by 137.6% in the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank’s stock worth $1,981,000 after purchasing an additional 34,316 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Southside Bancshares by 119.5% in the 3rd quarter. Jane Street Group LLC now owns 53,571 shares of the bank’s stock worth $1,791,000 after purchasing an additional 29,163 shares during the last quarter. 55.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on SBSI shares. StockNews.com cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Raymond James started coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They issued a “market perform” rating for the company.

Southside Bancshares Stock Performance

Shares of Southside Bancshares stock opened at $32.09 on Tuesday. The firm has a fifty day moving average of $33.53 and a two-hundred day moving average of $32.98. The stock has a market capitalization of $972.77 million, a price-to-earnings ratio of 11.59 and a beta of 0.58. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 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 issued its earnings results on Thursday, October 24th. The bank reported $0.68 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.05). The business had revenue of $113.87 million for the quarter, compared to the consensus estimate of $68.25 million. Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. During the same quarter in the previous year, the firm posted $0.60 EPS. As a group, equities research analysts predict that Southside Bancshares, Inc. will post 2.98 EPS for the current year.

Southside Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend was Thursday, November 21st. Southside Bancshares’s dividend payout ratio (DPR) is 51.99%.

Insider Activity

In related news, CEO Lee R. Gibson sold 3,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $36.74, for a total value of $121,242.00. Following the completion of the transaction, the chief executive officer now directly owns 57,272 shares of the company’s stock, valued at approximately $2,104,173.28. This represents a 5.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suni M. Davis sold 2,220 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total transaction of $79,920.00. Following the completion of the transaction, the insider now directly owns 9,202 shares of the company’s stock, valued at approximately $331,272. The trade was a 19.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is 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.