Dimensional Fund Advisors LP Sells 28,941 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Dimensional Fund Advisors LP decreased its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,166,936 shares of the bank’s stock after selling 28,941 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.86% of Southside Bancshares worth $32,218,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Texas Permanent School Fund Corp increased its stake in 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 buying an additional 369 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Southside Bancshares by 54.4% in the second 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 last quarter. Victory Capital Management Inc. grew its stake in 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. Price T Rowe Associates Inc. MD increased its position in shares of Southside Bancshares by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,315 shares of the bank’s stock valued at $828,000 after purchasing an additional 1,074 shares during the last quarter. Finally, EntryPoint Capital LLC raised its stake in shares of Southside Bancshares by 57.0% during 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. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Analyst Upgrades and Downgrades

SBSI has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Hovde Group raised their price target on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Southside Bancshares Stock Down 2.5 %

SBSI stock opened at $32.58 on Wednesday. Southside Bancshares, Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $36.10. The stock has a fifty day moving average of $33.09 and a 200-day moving average of $29.47. The company has a market capitalization of $986.20 million, a price-to-earnings ratio of 12.11 and a beta of 0.54. 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 posted its earnings results on Thursday, July 25th. The bank reported $0.81 earnings per share 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 the consensus estimate of $64.91 million. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. During the same quarter last year, the company earned $0.82 earnings per share. As a group, equities research analysts predict that Southside Bancshares, Inc. will post 2.96 earnings per share for the current year.

Southside Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Thursday, August 22nd. Southside Bancshares’s payout ratio is currently 53.53%.

Insider Activity

In other Southside Bancshares news, CFO Julie Shamburger sold 5,360 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $35.03, for a total value of $187,760.80. Following the completion of the transaction, the chief financial officer now owns 24,327 shares in the company, valued at approximately $852,174.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Julie Shamburger sold 5,360 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total transaction of $187,760.80. Following the sale, the chief financial officer now owns 24,327 shares of the company’s stock, valued at approximately $852,174.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jared C. Green sold 864 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $33.27, for a total transaction of $28,745.28. Following the completion of the transaction, the insider now directly owns 4,358 shares of the company’s stock, valued at $144,990.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,890 shares of company stock worth $500,319. 5.90% of the stock is owned by corporate insiders.

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.