Virginia Retirement Systems ET AL purchased a new stake in Southside Bancshares Inc. (NASDAQ:SBSI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,301 shares of the company’s stock, valued at approximately $473,000. Virginia Retirement Systems ET AL owned approximately 0.06% of Southside Bancshares at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Southside Bancshares by 2.1% in the second quarter. Vanguard Group Inc. now owns 1,110,651 shares of the company’s stock valued at $34,342,000 after buying an additional 22,917 shares in the last quarter. Principal Financial Group Inc. increased its stake in Southside Bancshares by 7.9% in the second quarter. Principal Financial Group Inc. now owns 171,577 shares of the company’s stock worth $5,305,000 after buying an additional 12,513 shares during the period. Prudential Financial Inc. increased its stake in Southside Bancshares by 5.3% in the second quarter. Prudential Financial Inc. now owns 59,803 shares of the company’s stock worth $1,849,000 after buying an additional 3,000 shares during the period. Hancock Holding Co. bought a new stake in Southside Bancshares during the second quarter worth about $7,565,000. Finally, Dimensional Fund Advisors LP increased its stake in Southside Bancshares by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 959,385 shares of the company’s stock worth $29,664,000 after buying an additional 105,376 shares during the period. Institutional investors and hedge funds own 43.41% of the company’s stock.
Southside Bancshares Inc. (NASDAQ:SBSI) opened at 32.88 on Friday. 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 $863.13 million, a PE ratio of 18.10 and a beta of 0.69. The company has a 50 day moving average of $32.15 and a 200-day moving average of $30.13.
Southside Bancshares (NASDAQ:SBSI) last released 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 return on equity of 10.62% and a net margin of 24.04%. On average, equities research analysts predict that Southside Bancshares Inc. will post $2.01 earnings per share for the current year.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Southside Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. Keefe, Bruyette & Woods boosted their price target on shares of Southside Bancshares from $29.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, August 1st.
In related news, insider Tim Carter sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $31.21, for a total value of $62,420.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.30% of the stock is currently owned by corporate insiders.
About Southside Bancshares
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.
Want to see what other hedge funds are holding SBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southside Bancshares Inc. (NASDAQ:SBSI).
Receive News & Ratings for Southside Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.