Parametric Portfolio Associates LLC Boosts Holdings in Southside Bancshares, Inc. (SBSI)
Parametric Portfolio Associates LLC grew its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 33.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,948 shares of the bank’s stock after buying an additional 10,884 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.15% of Southside Bancshares worth $1,501,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Southside Bancshares by 0.5% during the second quarter. BlackRock Inc. now owns 3,348,158 shares of the bank’s stock worth $116,987,000 after buying an additional 15,123 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Southside Bancshares by 6.2% during the second quarter. Vanguard Group Inc. now owns 1,727,918 shares of the bank’s stock worth $60,373,000 after purchasing an additional 100,282 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Southside Bancshares by 14.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,216,343 shares of the bank’s stock worth $40,833,000 after purchasing an additional 153,221 shares during the period. State Street Corp lifted its holdings in shares of Southside Bancshares by 37.0% during the first quarter. State Street Corp now owns 912,105 shares of the bank’s stock worth $30,620,000 after purchasing an additional 246,458 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Southside Bancshares by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 567,996 shares of the bank’s stock worth $19,846,000 after purchasing an additional 23,654 shares during the period. 51.43% of the stock is currently owned by hedge funds and other institutional investors.
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In related news, COO Brian K. Mccabe sold 1,500 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $33.00, for a total value of $49,500.00. Following the transaction, the chief operating officer now owns 16,658 shares in the company, valued at $549,714. The transaction was disclosed in a document filed with the SEC, which is available through this link. 17.20% of the stock is owned by insiders.
A number of equities analysts have recently commented on the stock. Piper Jaffray Companies assumed coverage on shares of Southside Bancshares in a report on Friday, September 22nd. They set a “neutral” rating and a $37.00 price target on the stock. BidaskClub lowered shares of Southside Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Zacks Investment Research lowered shares of Southside Bancshares from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 8th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $37.00 price target on shares of Southside Bancshares in a report on Tuesday, October 3rd.
Southside Bancshares, Inc. (NASDAQ:SBSI) opened at $34.34 on Tuesday. The company has a market cap of $1,001.33, a price-to-earnings ratio of 17.84 and a beta of 0.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.62 and a current ratio of 0.62. Southside Bancshares, Inc. has a fifty-two week low of $31.20 and a fifty-two week high of $38.99.
Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Friday, October 27th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The business had revenue of $44.37 million for the quarter, compared to analyst estimates of $51.00 million. Southside Bancshares had a return on equity of 10.32% and a net margin of 25.70%. research analysts forecast that Southside Bancshares, Inc. will post 2.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.12 annualized dividend and a yield of 3.26%. Southside Bancshares’s payout ratio is 58.74%.
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.
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