Jamison Private Wealth Management Inc. Decreases Stock Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Jamison Private Wealth Management Inc. lessened its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 12.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,571 shares of the bank’s stock after selling 1,373 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Southside Bancshares were worth $304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SBSI. GAMMA Investing LLC grew its position in Southside Bancshares by 61.1% in the 4th quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock valued at $42,000 after acquiring an additional 507 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Southside Bancshares by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,371 shares of the bank’s stock valued at $314,000 after acquiring an additional 570 shares during the last quarter. CWM LLC grew its position in Southside Bancshares by 50.8% in the 3rd quarter. CWM LLC now owns 4,673 shares of the bank’s stock valued at $156,000 after acquiring an additional 1,574 shares during the last quarter. Point72 Asset Management L.P. grew its position in Southside Bancshares by 48.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank’s stock valued at $139,000 after acquiring an additional 1,643 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in Southside Bancshares by 190.1% in the 3rd quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock valued at $96,000 after acquiring an additional 1,890 shares during the last quarter. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Southside Bancshares Price Performance

SBSI opened at $32.09 on Monday. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-month high of $38.00. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $33.20 and its 200-day simple moving average is $33.12. The company has a market capitalization of $972.65 million, a price-to-earnings ratio of 11.58 and a beta of 0.58.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). The firm had revenue of $113.87 million for the quarter, compared to the consensus estimate of $68.25 million. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. During the same period in the previous year, the company posted $0.60 EPS. On average, equities research analysts anticipate that Southside Bancshares, Inc. will post 2.95 earnings per share for the current fiscal year.

Southside Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend was Thursday, November 21st. Southside Bancshares’s dividend payout ratio (DPR) is currently 51.99%.

Insider Buying and Selling

In related news, insider Suni M. Davis sold 2,220 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total transaction of $79,920.00. Following the completion of the sale, the insider now directly owns 9,202 shares in the company, valued at $331,272. This represents a 19.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Lee R. Gibson sold 3,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total value of $121,242.00. Following the sale, the chief executive officer now owns 57,272 shares of the company’s stock, valued at $2,104,173.28. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on SBSI shares. Raymond James began coverage on Southside Bancshares in a research report on Tuesday, January 14th. They issued a “market perform” rating on the stock. StockNews.com downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th.

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 deposits.