Deutsche Bank AG Purchases 9,466 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Deutsche Bank AG increased its position in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 53.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,043 shares of the bank's stock after acquiring an additional 9,466 shares during the period. Deutsche Bank AG owned about 0.09% of Southside Bancshares worth $859,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SBSI. Sterling Capital Management LLC raised its holdings in Southside Bancshares by 867.4% in 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. Quantbot Technologies LP raised its holdings in Southside Bancshares by 34.9% in 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 raised its holdings in Southside Bancshares by 39.0% in 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. KLP Kapitalforvaltning AS purchased a new position in Southside Bancshares in the 4th quarter worth approximately $178,000. Finally, Magnetar Financial LLC purchased a new position in Southside Bancshares in the 4th quarter worth approximately $218,000. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

Southside Bancshares Stock Performance

SBSI traded up $0.22 during mid-day trading on Thursday, reaching $28.35. 90,325 shares of the company traded hands, compared to its average volume of 118,432. The stock has a market capitalization of $856.69 million, a P/E ratio of 9.74 and a beta of 0.65. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. The company's fifty day moving average price is $28.33 and its 200-day moving average price is $30.91. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share 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 period in the previous year, the business earned $0.71 EPS. On average, sell-side analysts expect that Southside Bancshares, Inc. will post 2.84 EPS for the current year.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.36 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.44 annualized dividend and a dividend yield of 5.08%. Southside Bancshares's dividend payout ratio (DPR) is 49.48%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SBSI shares. Wall Street Zen upgraded shares of Southside Bancshares from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Stephens decreased their target price on shares of Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating for the company in a research note on Thursday, January 30th.

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.