Bank of New York Mellon Corp Sells 13,196 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Bank of New York Mellon Corp lessened its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287,347 shares of the bank's stock after selling 13,196 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.95% of Southside Bancshares worth $8,322,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Sterling Capital Management LLC raised 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 purchasing an additional 824 shares during the last quarter. Lazard Asset Management LLC bought a new position in Southside Bancshares during the 4th quarter worth approximately $103,000. Quantbot Technologies LP raised 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 purchasing an additional 1,006 shares during the last quarter. Aquatic Capital Management LLC raised 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 purchasing an additional 1,443 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Southside Bancshares during the 4th quarter worth approximately $178,000. Institutional investors own 55.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

Southside Bancshares Trading Down 1.0%

Shares of NASDAQ:SBSI traded down $0.31 during mid-day trading on Friday, hitting $30.35. The company had a trading volume of 48,359 shares, compared to its average volume of 116,781. The firm has a fifty day moving average price of $29.36 and a 200 day moving average price of $29.59. The company has a market capitalization of $917.12 million, a PE ratio of 10.45 and a beta of 0.67. 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 one year low of $25.85 and a one year high of $38.00.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The bank reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The company 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, research analysts forecast that Southside Bancshares, Inc. will post 2.84 EPS for the current year.

Southside Bancshares Announces Dividend

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 of this dividend was Thursday, May 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 4.74%. Southside Bancshares's dividend payout ratio (DPR) is presently 49.48%.

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 deposits.