Southside Bancshares, Inc. (NASDAQ:SBSI) Stock Holdings Cut by Hamilton Point Investment Advisors LLC

Hamilton Point Investment Advisors LLC reduced its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,332 shares of the bank’s stock after selling 476 shares during the quarter. Hamilton Point Investment Advisors LLC owned about 0.19% of Southside Bancshares worth $1,827,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. BlackRock Inc. grew its position in shares of Southside Bancshares by 1.9% in the first quarter. BlackRock Inc. now owns 4,758,431 shares of the bank’s stock valued at $194,286,000 after purchasing an additional 88,082 shares during the last quarter. State Street Corp grew its position in shares of Southside Bancshares by 4.8% in the second quarter. State Street Corp now owns 1,326,108 shares of the bank’s stock valued at $34,691,000 after purchasing an additional 60,183 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Southside Bancshares by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,317,359 shares of the bank’s stock valued at $43,736,000 after purchasing an additional 36,889 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Southside Bancshares by 0.9% in the second quarter. Geode Capital Management LLC now owns 594,289 shares of the bank’s stock valued at $15,547,000 after purchasing an additional 5,251 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Southside Bancshares by 6.2% in the second quarter. Renaissance Technologies LLC now owns 546,185 shares of the bank’s stock valued at $14,288,000 after purchasing an additional 31,957 shares during the last quarter. 55.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Herbert C. Buie bought 1,990 shares of the stock in a transaction on Tuesday, January 30th. The stock was purchased at an average price of $32.52 per share, for a total transaction of $64,714.80. Following the acquisition, the director now owns 407,501 shares in the company, valued at $13,251,932.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Southside Bancshares news, Director Herbert C. Buie bought 1,990 shares of the stock in a transaction dated Tuesday, January 30th. The shares were bought at an average cost of $32.52 per share, with a total value of $64,714.80. Following the completion of the acquisition, the director now owns 407,501 shares of the company’s stock, valued at $13,251,932.52. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lee R. Gibson sold 14,897 shares of Southside Bancshares stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $30.27, for a total transaction of $450,932.19. Following the completion of the transaction, the chief executive officer now directly owns 56,491 shares in the company, valued at $1,709,982.57. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Southside Bancshares Stock Performance

Shares of NASDAQ:SBSI traded up $0.08 during midday trading on Monday, hitting $27.09. The company’s stock had a trading volume of 95,079 shares, compared to its average volume of 132,894. The stock has a market capitalization of $820.29 million, a price-to-earnings ratio of 9.64 and a beta of 0.54. The stock’s 50 day simple moving average is $28.69 and its 200 day simple moving average is $29.30. Southside Bancshares, Inc. has a fifty-two week low of $25.38 and a fifty-two week high of $34.40. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.75 and a current ratio of 0.75.

Southside Bancshares (NASDAQ:SBSI) last released its earnings results on Friday, January 26th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.10). Southside Bancshares had a return on equity of 11.59% and a net margin of 21.92%. The firm had revenue of $68.50 million for the quarter, compared to analyst estimates of $64.82 million. During the same period last year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, research analysts anticipate that Southside Bancshares, Inc. will post 2.86 earnings per share for the current year.

Southside Bancshares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend was Wednesday, February 14th. Southside Bancshares’s dividend payout ratio (DPR) is currently 51.25%.

About Southside Bancshares

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 deposits.