MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income Has $7.87 Million Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income cut its holdings in Southside Bancshares, Inc. (NASDAQ:SBSIGet Rating) by 23.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,639 shares of the bank’s stock after selling 57,400 shares during the quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s holdings in Southside Bancshares were worth $7,865,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new stake in shares of Southside Bancshares in the fourth quarter worth $28,000. Nisa Investment Advisors LLC acquired a new stake in shares of Southside Bancshares in the first quarter worth $32,000. Gibson Wealth Advisors LLC acquired a new stake in shares of Southside Bancshares in the fourth quarter worth $45,000. First Dallas Securities Inc. acquired a new stake in shares of Southside Bancshares in the fourth quarter worth $209,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Southside Bancshares in the fourth quarter worth $230,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Southside Bancshares Stock Performance

Southside Bancshares stock traded up $0.47 on Friday, hitting $39.89. The company’s stock had a trading volume of 52,427 shares, compared to its average volume of 67,104. The firm has a market cap of $1.28 billion, a P/E ratio of 11.94 and a beta of 0.57. The company has a quick ratio of 0.66, a current ratio of 0.64 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $38.23 and a 200-day moving average price of $39.85. Southside Bancshares, Inc. has a one year low of $35.44 and a one year high of $45.36.

Southside Bancshares (NASDAQ:SBSIGet Rating) last posted its earnings results on Monday, July 25th. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.03. Southside Bancshares had a net margin of 40.84% and a return on equity of 13.17%. During the same period last year, the business posted $0.65 EPS. On average, equities analysts anticipate that Southside Bancshares, Inc. will post 3.31 earnings per share for the current year.

Southside Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, August 17th. Southside Bancshares’s dividend payout ratio is currently 40.72%.

Insiders Place Their Bets

In other Southside Bancshares news, insider Cindy Blackstone sold 2,005 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $39.44, for a total transaction of $79,077.20. Following the sale, the insider now owns 2,021 shares of the company’s stock, valued at approximately $79,708.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Southside Bancshares to $41.00 in a research note on Monday, July 4th. Stephens upped their target price on shares of Southside Bancshares to $43.00 in a research note on Tuesday, July 26th.

Southside Bancshares Company Profile

(Get Rating)

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 deposit.

Further Reading

Want to see what other hedge funds are holding SBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southside Bancshares, Inc. (NASDAQ:SBSIGet Rating).

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

Receive News & Ratings for Southside Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.