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 cut its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 7.6% during the third quarter, Holdings Channel reports. The fund owned 59,682 shares of the bank’s stock after selling 4,879 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Southside Bancshares were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its position in Southside Bancshares by 54.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock worth $30,000 after purchasing an additional 387 shares during the period. Quantbot Technologies LP lifted its stake 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 buying an additional 1,890 shares during the last quarter. CWM LLC boosted its holdings in shares of Southside Bancshares by 447.5% during the 2nd quarter. CWM LLC now owns 3,099 shares of the bank’s stock worth $86,000 after buying an additional 2,533 shares during the period. FMR LLC grew its stake in 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 buying an additional 2,382 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Southside Bancshares by 48.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock valued at $139,000 after acquiring an additional 1,643 shares during the period. Institutional investors own 55.70% of the company’s stock.

Southside Bancshares Stock Down 0.2 %

SBSI stock opened at $35.16 on Monday. Southside Bancshares, Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $38.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 12.69 and a beta of 0.56. The business’s fifty day moving average price is $34.42 and its two-hundred day moving average price is $31.97.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 EPS 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 business had revenue of $113.87 million for the quarter, compared to the consensus estimate of $68.25 million. During the same period in the prior year, the business posted $0.60 earnings per share. On average, equities analysts anticipate that Southside Bancshares, Inc. will post 2.98 earnings per share for the current year.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $1.44 annualized dividend and a dividend yield of 4.10%. Southside Bancshares’s dividend payout ratio is presently 51.99%.

Insider Activity

In other Southside Bancshares news, insider Suni M. Davis sold 2,220 shares of Southside Bancshares stock in a transaction on Wednesday, November 6th. The stock was 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 $331,272. The trade was a 19.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lee R. Gibson sold 3,300 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total value of $121,242.00. Following the sale, the chief executive officer now directly owns 57,272 shares in the company, valued at approximately $2,104,173.28. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.