Hennion & Walsh Asset Management Inc. Has $511,000 Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Hennion & Walsh Asset Management Inc. trimmed its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,101 shares of the bank’s stock after selling 2,187 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Southside Bancshares were worth $511,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Southside Bancshares by 61.1% during the 4th quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock worth $42,000 after buying an additional 507 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Southside Bancshares during the 3rd quarter worth about $83,000. Quantbot Technologies LP raised its holdings in shares of Southside Bancshares by 190.1% in the 3rd quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock valued at $96,000 after purchasing an additional 1,890 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Southside Bancshares by 172.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,176 shares of the bank’s stock valued at $106,000 after purchasing an additional 2,011 shares during the period. Finally, FMR LLC raised 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 valued at $115,000 after purchasing an additional 2,382 shares during the period. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Southside Bancshares Stock Up 0.9 %

Southside Bancshares stock opened at $32.09 on Tuesday. The stock has a market cap of $972.77 million, a P/E ratio of 11.59 and a beta of 0.58. 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 twelve month low of $25.30 and a twelve month high of $38.00. The company’s 50-day moving average price is $33.53 and its two-hundred day moving average price is $32.98.

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 the consensus estimate of $0.73 by ($0.05). The company had revenue of $113.87 million during the quarter, compared to the consensus estimate 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 prior year, the company earned $0.60 earnings per share. As a group, analysts expect that Southside Bancshares, Inc. will post 2.98 EPS for the current year.

Southside Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were issued a $0.36 dividend. The ex-dividend date was Thursday, November 21st. This represents a $1.44 annualized dividend and a yield of 4.49%. Southside Bancshares’s dividend payout ratio is currently 51.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBSI. StockNews.com cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Raymond James began coverage on shares of Southside Bancshares in a report on Tuesday, January 14th. They issued a “market perform” rating on the stock.

Insider Buying and Selling at Southside Bancshares

In other news, CEO Lee R. Gibson sold 3,300 shares of the firm’s stock in a transaction that occurred 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 directly owns 57,272 shares of the company’s stock, valued at approximately $2,104,173.28. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suni M. Davis sold 2,220 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total transaction 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 disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

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.