Point72 Asia Singapore Pte. Ltd. Sells 2,519 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Point72 Asia Singapore Pte. Ltd. decreased its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 68.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,165 shares of the bank’s stock after selling 2,519 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Southside Bancshares were worth $32,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC increased 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 worth $16,657,000 after acquiring an additional 38,500 shares during the period. ProShare Advisors LLC increased its position in Southside Bancshares by 0.9% during the first quarter. ProShare Advisors LLC now owns 266,202 shares of the bank’s stock worth $7,781,000 after acquiring an additional 2,456 shares during the period. American Century Companies Inc. increased its position in Southside Bancshares by 1.2% during the second quarter. American Century Companies Inc. now owns 168,450 shares of the bank’s stock worth $4,651,000 after acquiring an additional 1,984 shares during the period. Empowered Funds LLC increased 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 worth $1,913,000 after acquiring an additional 4,900 shares during the period. Finally, Public Sector Pension Investment Board increased its position in Southside Bancshares by 6.3% during the second quarter. Public Sector Pension Investment Board now owns 63,273 shares of the bank’s stock worth $1,747,000 after acquiring an additional 3,736 shares during the period. Institutional investors own 55.70% of the company’s stock.

Insider Activity

In other news, CFO Julie Shamburger sold 5,360 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total value of $187,760.80. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Julie Shamburger sold 5,360 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total value of $187,760.80. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jared C. Green sold 864 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $33.27, for a total transaction of $28,745.28. Following the sale, the insider now directly owns 4,358 shares in the company, valued at approximately $144,990.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,890 shares of company stock worth $500,319. Corporate insiders own 5.90% of the company’s stock.

Southside Bancshares Stock Down 2.5 %

SBSI 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 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’s fifty day moving average price is $33.09 and its two-hundred day moving average price is $29.47. The company has a market capitalization of $986.20 million, a P/E ratio of 12.11 and a beta of 0.54.

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

Southside Bancshares Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Hovde Group lifted 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 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.