First Trust Advisors LP boosted its position in Southside Bancshares Inc. (NASDAQ:SBSI) by 6.6% during the second quarter, Holdings Channel reports. The institutional investor owned 25,929 shares of the company’s stock after buying an additional 1,609 shares during the period. First Trust Advisors LP owned 0.10% of Southside Bancshares worth $802,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado boosted its position in shares of Southside Bancshares by 5.0% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,942 shares of the company’s stock worth $215,000 after buying an additional 331 shares in the last quarter. Capstone Asset Management Co. bought a new position in shares of Southside Bancshares during the second quarter valued at $230,000. BNP Paribas Arbitrage SA boosted its position in shares of Southside Bancshares by 119.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,617 shares of the company’s stock valued at $236,000 after buying an additional 4,144 shares during the period. Virginia Retirement System bought a new position in shares of Southside Bancshares during the first quarter valued at $267,000. Finally, New York State Teachers Retirement System boosted its position in shares of Southside Bancshares by 5.0% in the second quarter. New York State Teachers Retirement System now owns 9,999 shares of the company’s stock valued at $309,000 after buying an additional 476 shares during the period. Institutional investors own 43.41% of the company’s stock.
Shares of Southside Bancshares Inc. (NASDAQ:SBSI) traded down 0.76% during trading on Friday, reaching $32.63. The company’s stock had a trading volume of 84,894 shares. The stock’s 50 day moving average is $32.19 and its 200 day moving average is $30.18. Southside Bancshares Inc. has a one year low of $19.54 and a one year high of $33.62. The firm has a market cap of $856.57 million, a P/E ratio of 17.96 and a beta of 0.69.
Southside Bancshares (NASDAQ:SBSI) last posted its earnings results on Friday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Southside Bancshares had a net margin of 24.04% and a return on equity of 10.62%. On average, equities analysts forecast that Southside Bancshares Inc. will post $2.01 EPS for the current fiscal year.
Several equities analysts have weighed in on SBSI shares. Keefe, Bruyette & Woods raised their price objective on Southside Bancshares from $29.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, August 1st. Zacks Investment Research cut Southside Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th.
In other news, insider Tim Carter sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $31.21, for a total transaction of $62,420.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 17.30% 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. The Company operates through approximately 60 banking centers, over 20 of which are located in grocery stores, and 25 motor bank facilities.
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