UBS Group AG Sells 5,706 Shares of Southside Bancshares, Inc. (SBSI)
UBS Group AG lowered its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 47.3% during the first quarter, Holdings Channel reports. The firm owned 6,345 shares of the bank’s stock after selling 5,706 shares during the period. UBS Group AG’s holdings in Southside Bancshares were worth $213,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of SBSI. SG Americas Securities LLC acquired a new position in Southside Bancshares during the first quarter worth approximately $102,000. US Bancorp DE raised its position in Southside Bancshares by 52.8% in the first quarter. US Bancorp DE now owns 3,771 shares of the bank’s stock worth $127,000 after buying an additional 1,303 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Southside Bancshares by 12.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock worth $169,000 after buying an additional 576 shares during the last quarter. Mason Street Advisors LLC raised its position in Southside Bancshares by 8.3% in the first quarter. Mason Street Advisors LLC now owns 6,203 shares of the bank’s stock worth $208,000 after buying an additional 475 shares during the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new position in Southside Bancshares during the first quarter worth approximately $236,000. Institutional investors own 51.41% of the company’s stock.
Southside Bancshares, Inc. (NASDAQ:SBSI) traded down 0.29% during trading on Monday, hitting $34.17. The stock had a trading volume of 7,565 shares. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 17.99 and a beta of 0.78. The stock has a 50 day moving average price of $34.90 and a 200 day moving average price of $33.93. Southside Bancshares, Inc. has a 12-month low of $29.93 and a 12-month high of $38.04.
Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, July 28th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.04. Southside Bancshares had a net margin of 25.30% and a return on equity of 10.42%. The firm had revenue of $44.72 million during the quarter, compared to analyst estimates of $50.40 million. Equities research analysts forecast that Southside Bancshares, Inc. will post $2.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be paid a $0.28 dividend. This is an increase from Southside Bancshares’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, August 15th. Southside Bancshares’s dividend payout ratio (DPR) is 57.52%.
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A number of research firms have recently commented on SBSI. Zacks Investment Research upgraded Southside Bancshares from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, May 9th. BidaskClub upgraded Southside Bancshares from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 price objective on shares of Southside Bancshares in a research note on Friday, April 28th.
In other Southside Bancshares news, Director Alton Cade, Jr. sold 2,950 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $35.31, for a total value of $104,164.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tim Carter sold 5,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $34.76, for a total transaction of $173,800.00. Following the completion of the transaction, the insider now directly owns 39,752 shares in the company, valued at $1,381,779.52. The disclosure for this sale can be found here. Company insiders own 17.20% of the company’s stock.
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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