Alliancebernstein L.P. Decreases Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Alliancebernstein L.P. trimmed its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 15.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,898 shares of the bank’s stock after selling 8,050 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Southside Bancshares worth $1,364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in Southside Bancshares by 174.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 763 shares of the bank’s stock valued at $28,000 after purchasing an additional 485 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Southside Bancshares by 29.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,870 shares of the bank’s stock valued at $87,000 after purchasing an additional 654 shares during the period. Acadian Asset Management LLC grew its holdings in Southside Bancshares by 61.3% during the first quarter. Acadian Asset Management LLC now owns 6,454 shares of the bank’s stock valued at $196,000 after purchasing an additional 2,453 shares during the period. Amalgamated Bank bought a new position in Southside Bancshares during the fourth quarter valued at $202,000. Finally, SG Americas Securities LLC grew its holdings in Southside Bancshares by 104.7% during the first quarter. SG Americas Securities LLC now owns 6,645 shares of the bank’s stock valued at $202,000 after purchasing an additional 3,398 shares during the period. 54.09% of the stock is owned by institutional investors.

SBSI opened at $27.31 on Wednesday. The company has a market cap of $901.50 million, a P/E ratio of 15.52 and a beta of 0.53. The business’s 50-day moving average price is $27.83 and its 200-day moving average price is $31.81. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.07. Southside Bancshares, Inc. has a 12 month low of $23.74 and a 12 month high of $37.89.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings data on Tuesday, May 5th. The bank reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.36). The company had revenue of $62.50 million during the quarter, compared to analysts’ expectations of $54.87 million. Southside Bancshares had a return on equity of 7.56% and a net margin of 20.52%. During the same quarter in the prior year, the firm posted $0.56 EPS. Equities research analysts forecast that Southside Bancshares, Inc. will post 1.68 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $1.24 annualized dividend and a dividend yield of 4.54%. Southside Bancshares’s payout ratio is presently 56.36%.

A number of equities analysts have recently commented on the company. BidaskClub lowered Southside Bancshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 3rd. Zacks Investment Research upgraded Southside Bancshares from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Saturday, June 20th. Finally, SunTrust Banks lowered their price target on Southside Bancshares from $32.00 to $29.00 and set a “hold” rating on the stock in a research report on Tuesday, May 19th.

In other Southside Bancshares news, insider John Robert Garrett bought 1,167 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $25.98 per share, with a total value of $30,318.66. Following the completion of the purchase, the insider now directly owns 15,850 shares of the company’s stock, valued at $411,783. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is owned by company insiders.

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 deposit.

Further Reading: S&P 500 Index

Institutional Ownership by Quarter for Southside Bancshares (NASDAQ:SBSI)

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