Moisand Fitzgerald Tamayo LLC bought a new position in Southside Bancshares Inc. (NASDAQ:SBSI) during the third quarter, according to its most recent filing with the SEC. The firm bought 16,125 shares of the company’s stock, valued at approximately $519,000. Moisand Fitzgerald Tamayo LLC owned about 0.06% of Southside Bancshares as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. US Bancorp DE raised its position in shares of Southside Bancshares by 88.9% in the third quarter. US Bancorp DE now owns 5,225 shares of the company’s stock worth $168,000 after buying an additional 2,459 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Southside Bancshares by 3.6% in the third quarter. UBS Asset Management Americas Inc. now owns 20,120 shares of the company’s stock worth $647,000 after buying an additional 700 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Southside Bancshares by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 378,973 shares of the company’s stock worth $12,196,000 after buying an additional 11,096 shares during the last quarter. Aperio Group LLC raised its position in shares of Southside Bancshares by 4.9% in the third quarter. Aperio Group LLC now owns 14,461 shares of the company’s stock worth $465,000 after buying an additional 680 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Southside Bancshares by 6.0% in the third quarter. Great West Life Assurance Co. Can now owns 33,109 shares of the company’s stock worth $1,065,000 after buying an additional 1,872 shares during the last quarter. 44.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Southside Bancshares Inc. (NASDAQ:SBSI) opened at 38.27 on Monday. The company has a market capitalization of $1.01 billion, a PE ratio of 20.50 and a beta of 0.58. Southside Bancshares Inc. has a 12 month low of $18.61 and a 12 month high of $38.91. The firm’s 50-day moving average is $34.06 and its 200 day moving average is $31.89.
Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings results on Friday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by $0.05. Southside Bancshares had a net margin of 23.93% and a return on equity of 10.72%. Equities research analysts predict that Southside Bancshares Inc. will post $1.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Tuesday, November 15th. This is an increase from Southside Bancshares’s previous quarterly dividend of $0.24. Southside Bancshares’s dividend payout ratio (DPR) is currently 53.41%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Southside Bancshares from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, August 1st.
In related news, Director Patricia Ann Callan sold 4,000 shares of Southside Bancshares stock in a transaction on Friday, November 11th. The shares were sold at an average price of $34.85, for a total transaction of $139,400.00. Following the completion of the transaction, the director now owns 2,883 shares of the company’s stock, valued at $100,472.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tim Carter sold 5,000 shares of Southside Bancshares stock in a transaction on Friday, November 11th. The stock was sold at an average price of $37.39, for a total transaction of $186,950.00. Following the transaction, the insider now directly owns 45,407 shares of the company’s stock, valued at approximately $1,697,767.73. The disclosure for this sale can be found here. Corporate insiders own 17.30% of the company’s stock.
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. The Company operates through approximately 60 banking centers, over 20 of which are located in grocery stores, and 25 motor bank facilities.