Southside Bancshares, Inc. (SBSI) Stake Lessened by Tributary Capital Management LLC
Tributary Capital Management LLC reduced its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 17.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 434,128 shares of the bank’s stock after selling 89,947 shares during the period. Tributary Capital Management LLC’s holdings in Southside Bancshares were worth $14,621,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in SBSI. BlackRock Inc. raised its holdings in Southside Bancshares by 0.5% in the second quarter. BlackRock Inc. now owns 3,348,158 shares of the bank’s stock worth $116,987,000 after purchasing an additional 15,123 shares in the last quarter. Vanguard Group Inc. boosted its position 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 buying an additional 100,282 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Southside Bancshares by 5.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,374,007 shares of the bank’s stock valued at $49,958,000 after buying an additional 75,241 shares during the last quarter. Northern Trust Corp boosted its position in Southside Bancshares by 4.5% in the 2nd quarter. Northern Trust Corp now owns 539,046 shares of the bank’s stock worth $18,834,000 after purchasing an additional 23,090 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Southside Bancshares by 2.4% in the 3rd quarter. American Century Companies Inc. now owns 458,916 shares of the bank’s stock worth $16,686,000 after purchasing an additional 10,762 shares in the last quarter. Hedge funds and other institutional investors own 43.21% of the company’s stock.
In related news, EVP Peter M. Boyd sold 750 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $35.19, for a total value of $26,392.50. Following the completion of the transaction, the executive vice president now directly owns 3,563 shares of the company’s stock, valued at approximately $125,381.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $153,137.28. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by corporate insiders.
Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) traded down $0.17 during mid-day trading on Thursday, hitting $34.96. The stock had a trading volume of 74,700 shares, compared to its average volume of 109,906. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.56. The firm has a market cap of $1,228.44, a P/E ratio of 18.33 and a beta of 0.76. Southside Bancshares, Inc. has a twelve month low of $31.20 and a twelve month high of $37.70.
Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Friday, October 27th. The bank reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 1.97 EPS for the current year.
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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.
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