Southside Bancshares, Inc. (SBSI) Shares Bought by BlackRock Inc.
BlackRock Inc. increased its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,348,158 shares of the bank’s stock after purchasing an additional 15,123 shares during the quarter. BlackRock Inc. owned approximately 11.41% of Southside Bancshares worth $116,987,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in SBSI. SG Americas Securities LLC bought a new position in Southside Bancshares in the first quarter worth approximately $102,000. US Bancorp DE grew its stake in Southside Bancshares by 52.8% in the first quarter. US Bancorp DE now owns 3,771 shares of the bank’s stock worth $127,000 after purchasing an additional 1,303 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Southside Bancshares by 12.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock worth $169,000 after purchasing an additional 576 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Southside Bancshares by 85.3% in the second quarter. State of Alaska Department of Revenue now owns 5,428 shares of the bank’s stock worth $189,000 after purchasing an additional 2,498 shares in the last quarter. Finally, Pitcairn Co. bought a new position in Southside Bancshares in the second quarter worth approximately $207,000. 51.45% of the stock is currently owned by institutional investors.
Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) opened at 36.51 on Wednesday. The company has a market cap of $1.07 billion, a PE ratio of 19.23 and a beta of 0.81. The firm’s 50-day moving average price is $34.37 and its 200 day moving average price is $33.96. 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 earnings results on Friday, July 28th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $44.72 million during the quarter, compared to analysts’ expectations of $50.40 million. Southside Bancshares had a net margin of 25.30% and a return on equity of 10.42%. Equities research analysts anticipate that Southside Bancshares, Inc. will post $2.07 earnings per share for the current fiscal year.
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In other Southside Bancshares news, insider Tim Carter sold 7,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $33.95, for a total value of $237,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian K. Mccabe sold 1,500 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 16,658 shares of the company’s stock, valued at approximately $549,714. The disclosure for this sale can be found here. 17.20% of the stock is owned by insiders.
Several brokerages recently issued reports on SBSI. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $37.00 price objective on shares of Southside Bancshares in a research note on Tuesday, October 3rd. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. BidaskClub raised Southside Bancshares from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Finally, Piper Jaffray Companies began coverage on Southside Bancshares in a research note on Friday, September 22nd. They issued a “neutral” rating and a $37.00 price objective on the stock.
Southside Bancshares Profile
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.
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