Third Avenue Management LLC reduced its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 204,070 shares of the bank’s stock after selling 17,608 shares during the quarter. Third Avenue Management LLC owned approximately 0.70% of Southside Bancshares worth $7,131,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of SBSI. Texas Permanent School Fund lifted its stake in Southside Bancshares by 0.4% in the first quarter. Texas Permanent School Fund now owns 19,204 shares of the bank’s stock valued at $645,000 after acquiring an additional 85 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Southside Bancshares by 2.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 7,116 shares of the bank’s stock valued at $249,000 after acquiring an additional 174 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Southside Bancshares by 2.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 8,754 shares of the bank’s stock valued at $306,000 after acquiring an additional 213 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Southside Bancshares by 2.5% in the second quarter. UBS Asset Management Americas Inc. now owns 10,607 shares of the bank’s stock valued at $371,000 after acquiring an additional 257 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Southside Bancshares by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 11,070 shares of the bank’s stock valued at $387,000 after acquiring an additional 270 shares during the last quarter. Institutional investors and hedge funds own 51.45% of the company’s stock.

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In other news, insider Tim Carter sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $33.95, for a total transaction of $237,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian K. Mccabe sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $33.00, for a total transaction of $49,500.00. Following the transaction, the chief operating officer now directly owns 16,658 shares of the company’s stock, valued at $549,714. The disclosure for this sale can be found here. 17.20% of the stock is owned by company insiders.

A number of research firms have issued reports on SBSI. Zacks Investment Research upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Piper Jaffray Companies began coverage on shares of Southside Bancshares in a research note on Friday, September 22nd. They issued a “neutral” rating and a $37.00 target price for the company. BidaskClub cut shares of Southside Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 target price on shares of Southside Bancshares in a research note on Tuesday, August 29th.

Shares of Southside Bancshares, Inc. (NASDAQ SBSI) traded up 0.89% during mid-day trading on Friday, hitting $36.36. 126,104 shares of the stock were exchanged. The company has a market capitalization of $1.07 billion, a PE ratio of 19.15 and a beta of 0.78. Southside Bancshares, Inc. has a 12-month low of $30.47 and a 12-month high of $38.08. The firm has a 50-day moving average price of $33.03 and a 200 day moving average price of $33.55.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Friday, July 28th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $44.72 million for the quarter, compared to the consensus estimate of $50.40 million. Southside Bancshares had a return on equity of 10.42% and a net margin of 25.30%. On average, equities research analysts expect that Southside Bancshares, Inc. will post $2.07 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were paid a dividend of $0.28 per share. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Tuesday, August 15th. Southside Bancshares’s dividend payout ratio (DPR) is currently 59.11%.

About Southside Bancshares

Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.

Institutional Ownership by Quarter for Southside Bancshares (NASDAQ:SBSI)

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