Public Sector Pension investment Board trimmed its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 26.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,042 shares of the bank’s stock after selling 5,058 shares during the period. Public Sector Pension investment Board’s holdings in Southside Bancshares were worth $491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBSI. BlackRock Inc. raised its position in shares of Southside Bancshares by 52,413.5% in the 1st quarter. BlackRock Inc. now owns 3,333,035 shares of the bank’s stock worth $111,890,000 after acquiring an additional 3,326,688 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Southside Bancshares by 26.7% in the 1st quarter. Vanguard Group Inc. now owns 1,627,636 shares of the bank’s stock worth $54,640,000 after acquiring an additional 343,015 shares in the last quarter. State Street Corp raised its position in shares of Southside Bancshares by 37.0% in the 1st quarter. State Street Corp now owns 912,105 shares of the bank’s stock worth $30,620,000 after acquiring an additional 246,458 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Southside Bancshares by 14.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,216,343 shares of the bank’s stock worth $40,833,000 after acquiring an additional 153,221 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Southside Bancshares by 31.2% in the 1st quarter. Bank of New York Mellon Corp now owns 544,342 shares of the bank’s stock worth $18,273,000 after acquiring an additional 129,337 shares in the last quarter. 51.45% of the stock is owned by hedge funds and other institutional investors.

Southside Bancshares, Inc. (NASDAQ SBSI) opened at 36.49 on Tuesday. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 19.22 and a beta of 0.81. The company’s 50-day moving average price is $33.84 and its 200 day moving average price is $33.81. Southside Bancshares, Inc. has a 12 month low of $30.47 and a 12 month high of $38.08.

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

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

SBSI has been the subject of several recent research reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $38.00 price target on shares of Southside Bancshares in a research report on Tuesday, August 29th. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Piper Jaffray Companies assumed coverage on Southside Bancshares in a research report on Friday, September 22nd. They set a “neutral” rating and a $37.00 target price on the stock. Finally, BidaskClub lowered Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th.

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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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