American International Group Inc. reduced its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 1.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,020 shares of the bank’s stock after selling 261 shares during the period. American International Group Inc.’s holdings in Southside Bancshares were worth $809,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. BBVA USA Bancshares Inc. purchased a new stake in shares of Southside Bancshares in the 1st quarter worth about $216,000. SG Americas Securities LLC purchased a new stake in shares of Southside Bancshares in the 4th quarter worth about $186,000. Manchester Financial Inc. purchased a new stake in shares of Southside Bancshares in the 1st quarter worth about $255,000. Trexquant Investment LP purchased a new stake in shares of Southside Bancshares in the 4th quarter worth about $240,000. Finally, Alps Advisors Inc. purchased a new stake in shares of Southside Bancshares in the 1st quarter worth about $332,000. Institutional investors own 50.81% of the company’s stock.
In related news, COO Brian K. Mccabe sold 2,681 shares of the business’s stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $43.15, for a total value of $115,685.15. Insiders own 5.30% of the company’s stock.
Southside Bancshares stock opened at $42.03 on Friday. Southside Bancshares, Inc. has a 52 week low of $23.51 and a 52 week high of $43.69. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.33. The stock has a 50-day simple moving average of $41.00. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 12.36 and a beta of 0.61.
Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Thursday, April 22nd. The bank reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.35. Southside Bancshares had a net margin of 41.21% and a return on equity of 13.32%. The firm had revenue of $62.87 million during the quarter, compared to the consensus estimate of $59.85 million. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, research analysts forecast that Southside Bancshares, Inc. will post 2.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 3rd. Investors of record on Thursday, May 20th were paid a $0.33 dividend. This is an increase from Southside Bancshares’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, May 19th. This represents a $1.32 annualized dividend and a yield of 3.14%. Southside Bancshares’s payout ratio is presently 53.01%.
Southside Bancshares Company 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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