Barclays PLC lifted its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI – Free Report) by 83.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 44,026 shares of the bank’s stock after buying an additional 19,990 shares during the quarter. Barclays PLC owned about 0.14% of Southside Bancshares worth $1,151,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its position in Southside Bancshares by 1.9% during the first quarter. BlackRock Inc. now owns 4,758,431 shares of the bank’s stock worth $194,286,000 after acquiring an additional 88,082 shares during the period. Dimensional Fund Advisors LP increased its position in Southside Bancshares by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,317,359 shares of the bank’s stock worth $43,736,000 after acquiring an additional 36,889 shares during the period. State Street Corp increased its position in Southside Bancshares by 4.1% during the first quarter. State Street Corp now owns 1,279,542 shares of the bank’s stock worth $52,244,000 after acquiring an additional 50,056 shares during the period. Geode Capital Management LLC increased its position in Southside Bancshares by 1.9% during the first quarter. Geode Capital Management LLC now owns 589,038 shares of the bank’s stock worth $19,556,000 after acquiring an additional 11,112 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Southside Bancshares by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 385,726 shares of the bank’s stock worth $13,640,000 after acquiring an additional 2,303 shares during the period. Institutional investors and hedge funds own 57.48% of the company’s stock.
Insider Activity at Southside Bancshares
In related news, insider Jared C. Green sold 1,665 shares of Southside Bancshares stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $29.81, for a total transaction of $49,633.65. Following the sale, the insider now directly owns 4,173 shares of the company’s stock, valued at approximately $124,397.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Southside Bancshares news, Director John F. Sammons, Jr. bought 3,000 shares of Southside Bancshares stock in a transaction on Tuesday, October 31st. The shares were purchased at an average cost of $27.10 per share, with a total value of $81,300.00. Following the acquisition, the director now directly owns 30,576 shares of the company’s stock, valued at approximately $828,609.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jared C. Green sold 1,665 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $29.81, for a total transaction of $49,633.65. Following the sale, the insider now directly owns 4,173 shares in the company, valued at $124,397.13. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.
Southside Bancshares Trading Up 1.5 %
Southside Bancshares (NASDAQ:SBSI – Get Free Report) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.17). The company had revenue of $67.26 million for the quarter, compared to the consensus estimate of $68.00 million. Southside Bancshares had a net margin of 25.54% and a return on equity of 13.13%. Equities research analysts forecast that Southside Bancshares, Inc. will post 2.87 earnings per share for the current fiscal year.
Southside Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.07%. The ex-dividend date is Tuesday, November 21st. Southside Bancshares’s dividend payout ratio (DPR) is presently 45.02%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on SBSI shares. TheStreet raised shares of Southside Bancshares from a “c+” rating to a “b-” rating in a research report on Monday, August 14th. Stephens raised their target price on shares of Southside Bancshares from $29.00 to $34.00 in a report on Wednesday, July 26th. StockNews.com assumed coverage on shares of Southside Bancshares in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, Piper Sandler raised their target price on shares of Southside Bancshares from $31.00 to $33.00 in a report on Wednesday, July 26th.
Southside Bancshares Profile
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.
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