UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 4,879 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 7.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,682 shares of the bank’s stock after selling 4,879 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.20% of Southside Bancshares worth $1,995,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of Southside Bancshares by 6.8% in 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 in the last quarter. AQR Capital Management LLC increased its stake in Southside Bancshares by 95.8% during 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 in the last quarter. American Century Companies Inc. raised its holdings in Southside Bancshares by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 168,450 shares of the bank’s stock worth $4,651,000 after buying an additional 1,984 shares during the period. Empowered Funds LLC lifted its stake in Southside Bancshares by 5.3% in the third quarter. Empowered Funds LLC now owns 74,250 shares of the bank’s stock valued at $2,482,000 after buying an additional 3,752 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Southside Bancshares by 6.3% in the second quarter. Public Sector Pension Investment Board now owns 63,273 shares of the bank’s stock valued at $1,747,000 after buying an additional 3,736 shares during the period. Institutional investors own 55.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th.

Insider Buying and Selling at Southside Bancshares

In related news, insider Suni M. Davis sold 2,220 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at approximately $331,272. This trade represents a 19.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lee R. Gibson sold 3,300 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total transaction of $121,242.00. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Southside Bancshares Stock Down 0.2 %

NASDAQ:SBSI opened at $35.16 on Monday. The stock has a 50-day simple moving average of $34.42 and a 200 day simple moving average of $31.97. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00. The company has a market cap of $1.07 billion, a PE ratio of 12.69 and a beta of 0.56. 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 released its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. The firm had revenue of $113.87 million for the quarter, compared to analyst estimates of $68.25 million. During the same period last year, the company earned $0.60 EPS. On average, sell-side analysts expect that Southside Bancshares, Inc. will post 2.98 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, November 21st. Southside Bancshares’s dividend payout ratio (DPR) is currently 51.99%.

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.