Healthcare of Ontario Pension Plan Trust Fund Lowers Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,100 shares of the bank’s stock after selling 2,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.08% of Southside Bancshares worth $675,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. State of New Jersey Common Pension Fund D increased its holdings in Southside Bancshares by 43.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 91,332 shares of the bank’s stock worth $2,861,000 after purchasing an additional 27,463 shares during the period. Solutions 4 Wealth Ltd purchased a new position in shares of Southside Bancshares during the fourth quarter valued at $759,000. Sowell Financial Services LLC bought a new stake in shares of Southside Bancshares in the fourth quarter valued at about $530,000. State Board of Administration of Florida Retirement System lifted its stake in Southside Bancshares by 185.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,028 shares of the bank’s stock worth $702,000 after acquiring an additional 15,625 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Southside Bancshares by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,825 shares of the bank’s stock worth $11,395,000 after acquiring an additional 15,470 shares in the last quarter. 55.70% of the stock is owned by hedge funds and other institutional investors.

Southside Bancshares Stock Up 8.8 %

NASDAQ:SBSI opened at $34.41 on Friday. The company’s 50-day simple moving average is $27.42 and its 200-day simple moving average is $28.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.73 and a current ratio of 0.73. Southside Bancshares, Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $34.70. The stock has a market capitalization of $1.04 billion, a P/E ratio of 12.79 and a beta of 0.55.

Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Thursday, April 25th. The bank reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.04). The firm had revenue of $112.48 million during the quarter, compared to analyst estimates of $67.10 million. Southside Bancshares had a net margin of 19.79% and a return on equity of 10.80%. During the same quarter last year, the business earned $0.84 earnings per share. On average, equities analysts anticipate that Southside Bancshares, Inc. will post 2.7 earnings per share for the current fiscal year.

Southside Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.18%. Southside Bancshares’s payout ratio is 53.53%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SBSI shares. StockNews.com raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Hovde Group cut their price target on Southside Bancshares from $35.00 to $31.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th.

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.