First Trust Advisors LP lessened its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 16.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,561 shares of the bank’s stock after selling 8,123 shares during the period. First Trust Advisors LP owned approximately 0.15% of Southside Bancshares worth $1,548,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Handelsbanken Fonder AB increased its position in shares of Southside Bancshares by 7.5% during the third quarter. Handelsbanken Fonder AB now owns 440,000 shares of the bank’s stock worth $15,998,000 after acquiring an additional 30,750 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Southside Bancshares during the second quarter worth $355,000. Piedmont Investment Advisors LLC bought a new stake in shares of Southside Bancshares during the second quarter worth $205,000. Susquehanna International Group LLP bought a new stake in shares of Southside Bancshares during the second quarter worth $387,000. Finally, Walthausen & Co. LLC increased its position in shares of Southside Bancshares by 2.1% during the second quarter. Walthausen & Co. LLC now owns 422,315 shares of the bank’s stock worth $14,756,000 after acquiring an additional 8,556 shares in the last quarter. 51.43% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Southside Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Zacks Investment Research raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $37.00 price objective on shares of Southside Bancshares in a research report on Tuesday, October 3rd. Finally, Piper Jaffray Companies assumed coverage on shares of Southside Bancshares in a research report on Friday, September 22nd. They set a “neutral” rating and a $37.00 price objective for the company.

Shares of Southside Bancshares, Inc. (SBSI) traded down $0.90 on Friday, reaching $36.20. 110,800 shares of the company traded hands, compared to its average volume of 108,117. Southside Bancshares, Inc. has a fifty-two week low of $31.20 and a fifty-two week high of $38.99. The firm has a market capitalization of $1,050.00, a PE ratio of 18.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.62 and a quick ratio of 0.62.

Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Friday, October 27th. The bank reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.05). Southside Bancshares had a return on equity of 10.32% and a net margin of 25.70%. The business had revenue of $44.37 million for the quarter, compared to analyst estimates of $51.00 million. equities research analysts predict that Southside Bancshares, Inc. will post 1.97 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Thursday, November 16th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Wednesday, November 15th. Southside Bancshares’s payout ratio is 58.64%.

In related news, Director Michael J. Bosworth sold 4,512 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $33.94, for a total transaction of $153,137.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian K. Mccabe sold 1,500 shares of the 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 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. Corporate insiders own 17.20% of the company’s stock.

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Southside Bancshares Company 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.

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

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