Bank of New York Mellon Corp decreased its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 560,806 shares of the bank’s stock after selling 7,190 shares during the period. Bank of New York Mellon Corp owned about 1.91% of Southside Bancshares worth $20,390,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hancock Holding Co. lifted its stake in Southside Bancshares by 2.5% in the second quarter. Hancock Holding Co. now owns 248,974 shares of the bank’s stock valued at $8,699,000 after purchasing an additional 6,074 shares during the last quarter. Walthausen & Co. LLC lifted its stake in Southside Bancshares by 2.1% in the second quarter. Walthausen & Co. LLC now owns 422,315 shares of the bank’s stock valued at $14,756,000 after purchasing an additional 8,556 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Southside Bancshares by 3.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 121,650 shares of the bank’s stock valued at $4,251,000 after purchasing an additional 4,254 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Southside Bancshares in the second quarter valued at approximately $318,000. Finally, Vanguard Group Inc. lifted its stake in Southside Bancshares by 6.2% in the second quarter. Vanguard Group Inc. now owns 1,727,918 shares of the bank’s stock valued at $60,373,000 after purchasing an additional 100,282 shares during the last quarter. Institutional investors and hedge funds own 43.30% of the company’s stock.

Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) opened at $34.64 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.56. Southside Bancshares, Inc. has a 1-year low of $31.20 and a 1-year high of $38.59. The stock has a market cap of $1,187.53, a price-to-earnings ratio of 17.81 and a beta of 0.76.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, November 15th. This represents a $1.12 dividend on an annualized basis and a yield of 3.23%. Southside Bancshares’s payout ratio is 58.74%.

In other Southside Bancshares news, Director Michael J. Bosworth sold 4,512 shares of the business’s 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 SEC, which is accessible through this hyperlink. Insiders own 17.20% of the company’s stock.

SBSI has been the topic of several research analyst reports. Zacks Investment Research upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 price objective on shares of Southside Bancshares in a research note on Tuesday, August 29th. Piper Jaffray Companies initiated 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. ValuEngine upgraded Southside Bancshares from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Finally, BidaskClub downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $37.00.

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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.

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

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