Metropolitan Life Insurance Co. NY lessened its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 51.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,136 shares of the bank’s stock after selling 9,575 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Southside Bancshares were worth $308,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake 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 purchasing an additional 75,241 shares in the last quarter. Renaissance Technologies LLC raised its stake in Southside Bancshares by 3.7% in the fourth quarter. Renaissance Technologies LLC now owns 870,410 shares of the bank’s stock valued at $29,315,000 after purchasing an additional 31,200 shares in the last quarter. American Century Companies Inc. raised its stake in Southside Bancshares by 10.8% in the fourth quarter. American Century Companies Inc. now owns 508,586 shares of the bank’s stock valued at $17,129,000 after purchasing an additional 49,670 shares in the last quarter. Geode Capital Management LLC raised its stake in Southside Bancshares by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 255,372 shares of the bank’s stock valued at $8,600,000 after purchasing an additional 4,454 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Southside Bancshares by 3.6% in the third quarter. JPMorgan Chase & Co. now owns 164,959 shares of the bank’s stock valued at $5,945,000 after purchasing an additional 5,795 shares in the last quarter. 43.51% of the stock is owned by institutional investors and hedge funds.
SBSI stock opened at $34.97 on Friday. The stock has a market capitalization of $1,218.08, a P/E ratio of 18.50 and a beta of 0.75. Southside Bancshares, Inc. has a 52 week low of $31.20 and a 52 week high of $37.57. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.77 and a quick ratio of 0.77.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Tuesday, February 6th. The bank reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.09). The company had revenue of $47.41 million during the quarter, compared to analyst estimates of $53.50 million. Southside Bancshares had a net margin of 24.14% and a return on equity of 9.50%. sell-side analysts predict that Southside Bancshares, Inc. will post 2.48 earnings per share for the current fiscal year.
A number of research firms recently commented on SBSI. BidaskClub downgraded Southside Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine downgraded Southside Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Zacks Investment Research downgraded Southside Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, April 11th. Five analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $38.00.
In other Southside Bancshares news, CFO Julie Shamburger bought 3,250 shares of the stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $34.88 per share, with a total value of $113,360.00. Following the completion of the purchase, the chief financial officer now owns 14,164 shares in the company, valued at $494,040.32. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 17.20% of the stock is currently owned by insiders.
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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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