Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 43.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,332 shares of the bank’s stock after acquiring an additional 27,463 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.30% of Southside Bancshares worth $2,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Denali Advisors LLC bought a new position in Southside Bancshares in the 3rd quarter worth about $135,000. SG Americas Securities LLC bought a new position in Southside Bancshares in the 3rd quarter worth about $190,000. Bill Few Associates Inc. bought a new position in Southside Bancshares in the 4th quarter worth about $203,000. Los Angeles Capital Management LLC bought a new position in Southside Bancshares in the 3rd quarter worth about $258,000. Finally, Alps Advisors Inc. bought a new position in Southside Bancshares in the 3rd quarter worth about $334,000. Institutional investors and hedge funds own 55.70% of the company’s stock.

Insider Activity

In related news, Director Herbert C. Buie acquired 1,990 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was acquired at an average cost of $32.52 per share, for a total transaction of $64,714.80. Following the completion of the acquisition, the director now directly owns 407,501 shares of the company’s stock, valued at approximately $13,251,932.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Lee R. Gibson sold 14,897 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $30.27, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herbert C. Buie bought 1,990 shares of Southside Bancshares stock in a transaction that occurred on Tuesday, January 30th. The shares were acquired at an average price of $32.52 per share, with a total value of $64,714.80. Following the completion of the acquisition, the director now directly owns 407,501 shares of the company’s stock, valued at approximately $13,251,932.52. The disclosure for this purchase can be found here. Insiders own 6.10% of the company’s stock.

Southside Bancshares Price Performance

NASDAQ SBSI opened at $27.27 on Monday. Southside Bancshares, Inc. has a 52 week low of $25.38 and a 52 week high of $34.40. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. The stock has a market cap of $825.74 million, a price-to-earnings ratio of 10.14 and a beta of 0.54. The company has a 50-day moving average price of $28.28 and a two-hundred day moving average price of $29.25.

Southside Bancshares (NASDAQ:SBSI) last posted its earnings results on Thursday, April 25th. The bank reported $0.71 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.04). Southside Bancshares had a return on equity of 10.80% and a net margin of 19.79%. The firm had revenue of $112.48 million during the quarter, compared to the consensus estimate of $67.10 million. During the same quarter last year, the company posted $0.84 EPS. Analysts forecast that Southside Bancshares, Inc. will post 2.74 EPS for the current year.

Southside Bancshares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.28%. The ex-dividend date was Wednesday, February 14th. Southside Bancshares’s dividend payout ratio (DPR) is presently 53.53%.

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.