Millennium Management LLC Sells 239,046 Shares of Southside Bancshares, Inc. (SBSI)

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Millennium Management LLC decreased its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 65.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,627 shares of the bank’s stock after selling 239,046 shares during the quarter. Millennium Management LLC’s holdings in Southside Bancshares were worth $4,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBSI. SG Americas Securities LLC raised its stake in shares of Southside Bancshares by 43.1% in the 4th quarter. SG Americas Securities LLC now owns 5,475 shares of the bank’s stock valued at $174,000 after purchasing an additional 1,648 shares during the period. United Services Automobile Association acquired a new stake in shares of Southside Bancshares in the 4th quarter valued at about $236,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Southside Bancshares by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,967 shares of the bank’s stock valued at $348,000 after purchasing an additional 8,565 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Southside Bancshares by 3.8% in the 4th quarter. State of Alaska Department of Revenue now owns 11,083 shares of the bank’s stock valued at $351,000 after purchasing an additional 404 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Southside Bancshares in the 4th quarter valued at about $388,000. 52.84% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have issued reports on SBSI. Zacks Investment Research raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. BidaskClub cut Southside Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 2nd.

Shares of NASDAQ SBSI opened at $34.28 on Thursday. The stock has a market capitalization of $1.15 billion, a PE ratio of 16.25 and a beta of 0.77. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.76 and a quick ratio of 0.76. Southside Bancshares, Inc. has a fifty-two week low of $29.28 and a fifty-two week high of $37.32.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings data on Friday, February 1st. The bank reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.08). The company had revenue of $52.54 million during the quarter, compared to the consensus estimate of $55.50 million. Southside Bancshares had a net margin of 27.47% and a return on equity of 9.94%. Southside Bancshares’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, sell-side analysts forecast that Southside Bancshares, Inc. will post 2.27 EPS for the current fiscal year.

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

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