Fmr LLC Increases Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Fmr LLC grew its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 226.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,432 shares of the bank’s stock after buying an additional 2,382 shares during the quarter. Fmr LLC’s holdings in Southside Bancshares were worth $115,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in Southside Bancshares by 54.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock valued at $30,000 after buying an additional 387 shares in the last quarter. Quantbot Technologies LP lifted its stake in Southside Bancshares by 190.1% during the third quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock worth $96,000 after purchasing an additional 1,890 shares during the last quarter. CWM LLC increased its position in shares of Southside Bancshares by 50.8% during the third quarter. CWM LLC now owns 4,673 shares of the bank’s stock worth $156,000 after purchasing an additional 1,574 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Southside Bancshares by 48.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock worth $139,000 after purchasing an additional 1,643 shares during the period. Finally, Bill Few Associates Inc. purchased a new stake in shares of Southside Bancshares during the third quarter worth approximately $222,000. 55.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Southside Bancshares

In other news, CEO Lee R. Gibson sold 3,300 shares of the stock in a transaction on Wednesday, November 6th. The shares were 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 $2,104,173.28. This represents a 5.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Suni M. Davis sold 2,220 shares of the stock in a transaction dated 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 approximately $331,272. This represents a 19.44 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Southside Bancshares Stock Up 0.4 %

NASDAQ:SBSI opened at $32.26 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $34.52 and a 200-day moving average of $32.22. The firm has a market capitalization of $977.74 million, a PE ratio of 11.65 and a beta of 0.56. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $38.00.

Southside Bancshares (NASDAQ:SBSI) last issued 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). The business had revenue of $113.87 million during the quarter, compared to analyst estimates of $68.25 million. Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. During the same period in the previous year, the company posted $0.60 earnings per share. Analysts predict that Southside Bancshares, Inc. will post 2.98 EPS for the current year.

Southside Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend was Thursday, November 21st. Southside Bancshares’s dividend payout ratio (DPR) is currently 51.99%.

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.