Alps Advisors Inc. Acquires Shares of 12,260 Southside Bancshares, Inc. (NASDAQ:SBSI)

Alps Advisors Inc. bought a new position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,260 shares of the bank's stock, valued at approximately $355,000.

A number of other institutional investors have also recently added to or reduced their stakes in SBSI. Sterling Capital Management LLC grew its holdings in Southside Bancshares by 867.4% during the 4th quarter. Sterling Capital Management LLC now owns 919 shares of the bank's stock worth $29,000 after acquiring an additional 824 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Southside Bancshares during the 4th quarter worth approximately $103,000. Quantbot Technologies LP grew its holdings in Southside Bancshares by 34.9% during the 4th quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock worth $124,000 after acquiring an additional 1,006 shares during the last quarter. Aquatic Capital Management LLC grew its holdings in Southside Bancshares by 39.0% during the 4th quarter. Aquatic Capital Management LLC now owns 5,143 shares of the bank's stock worth $163,000 after acquiring an additional 1,443 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Southside Bancshares during the 4th quarter worth approximately $178,000. 55.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Southside Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, May 9th.

Southside Bancshares Stock Up 1.8%

Shares of Southside Bancshares stock traded up $0.55 during trading on Thursday, reaching $31.21. 159,551 shares of the company traded hands, compared to its average volume of 117,453. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76. Southside Bancshares, Inc. has a 1-year low of $25.85 and a 1-year high of $38.00. The company has a 50 day moving average price of $29.22 and a 200-day moving average price of $29.61. The firm has a market capitalization of $942.98 million, a PE ratio of 10.73 and a beta of 0.67.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.04. The business had revenue of $100.29 million during the quarter, compared to analyst estimates of $67.37 million. Southside Bancshares had a net margin of 19.40% and a return on equity of 11.10%. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, equities research analysts expect that Southside Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Southside Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 4.61%. Southside Bancshares's dividend payout ratio (DPR) is presently 49.48%.

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.