Public Sector Pension Investment Board Has $2.02 Million Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Public Sector Pension Investment Board trimmed its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,373 shares of the bank’s stock after selling 2,900 shares during the quarter. Public Sector Pension Investment Board’s holdings in Southside Bancshares were worth $2,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in Southside Bancshares by 35.6% in the third quarter. BNP Paribas Financial Markets now owns 36,943 shares of the bank’s stock valued at $1,235,000 after acquiring an additional 9,693 shares during the period. FMR LLC grew its holdings in shares of Southside Bancshares by 226.9% in the 3rd quarter. FMR LLC now owns 3,432 shares of the bank’s stock worth $115,000 after purchasing an additional 2,382 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Southside Bancshares by 190.1% during the 3rd quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock worth $96,000 after purchasing an additional 1,890 shares in the last quarter. Intech Investment Management LLC bought a new position in Southside Bancshares during the 3rd quarter valued at about $233,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Southside Bancshares by 179.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,341 shares of the bank’s stock valued at $1,181,000 after buying an additional 22,687 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors.

Southside Bancshares Stock Performance

Southside Bancshares stock opened at $34.83 on Friday. The stock has a 50-day simple moving average of $34.11 and a 200 day simple moving average of $31.56. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 12.57 and a beta of 0.56. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.32. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-month high of $38.00.

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

Southside Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.13%. Southside Bancshares’s payout ratio is currently 51.99%.

Insider Activity

In related news, insider Suni M. Davis sold 2,220 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 9,202 shares in the company, valued at $331,272. This represents a 19.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lee R. Gibson sold 3,300 shares of Southside Bancshares 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 sale, the chief executive officer now directly owns 57,272 shares of the company’s stock, valued at $2,104,173.28. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Southside Bancshares 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.