Southside Bancshares, Inc. (NASDAQ:SBSI) Stake Decreased by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,930 shares of the bank’s stock after selling 4,113 shares during the quarter. Fisher Asset Management LLC owned 0.20% of Southside Bancshares worth $1,908,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Southside Bancshares in the third quarter worth $190,000. Bill Few Associates Inc. bought a new stake in shares of Southside Bancshares during the 4th quarter worth about $203,000. Los Angeles Capital Management LLC acquired a new stake in shares of Southside Bancshares in the 3rd quarter worth approximately $258,000. Alps Advisors Inc. bought a new position in shares of Southside Bancshares in the third quarter valued at approximately $334,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Southside Bancshares during the third quarter valued at approximately $409,000. Institutional investors own 55.70% of the company’s stock.

Southside Bancshares Price Performance

Shares of NASDAQ:SBSI opened at $27.85 on Thursday. The stock has a market cap of $843.44 million, a price-to-earnings ratio of 10.35 and a beta of 0.55. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.73. Southside Bancshares, Inc. has a 12 month low of $25.38 and a 12 month high of $34.40. The stock’s 50 day moving average price is $28.03 and its 200 day moving average price is $29.19.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings data 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 company earned $0.84 EPS. Equities research analysts anticipate that Southside Bancshares, Inc. will post 2.74 earnings per share for the current fiscal year.

Insider Activity

In related 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 transaction of $450,932.19. Following the completion of the sale, the chief executive officer now directly owns 56,491 shares of the company’s stock, valued at $1,709,982.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

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 deposits.