GAMMA Investing LLC Acquires 34,544 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

GAMMA Investing LLC raised its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 2,583.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,881 shares of the bank's stock after acquiring an additional 34,544 shares during the period. GAMMA Investing LLC owned approximately 0.12% of Southside Bancshares worth $1,039,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC lifted its stake in shares of 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 position in Southside Bancshares in the 4th quarter valued at $103,000. Quantbot Technologies LP increased its stake in Southside Bancshares by 34.9% in the fourth 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 period. Aquatic Capital Management LLC increased its stake in Southside Bancshares by 39.0% in the fourth 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 period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Southside Bancshares during the fourth quarter valued at $178,000. Hedge funds and other institutional investors own 55.70% of the company's stock.

Southside Bancshares Trading Up 0.1%

NASDAQ:SBSI traded up $0.03 during midday trading on Friday, hitting $28.08. The stock had a trading volume of 84,381 shares, compared to its average volume of 117,191. The stock has a 50-day moving average of $28.36 and a 200 day moving average of $30.09. The company has a market capitalization of $848.26 million, a price-to-earnings ratio of 9.64 and a beta of 0.66. Southside Bancshares, Inc. has a one year low of $25.78 and a one year high of $38.00. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. The business had revenue of $100.29 million during the quarter, compared to analysts' expectations of $67.37 million. Southside Bancshares had a return on equity of 11.10% and a net margin of 19.40%. During the same period in the prior year, the business earned $0.71 EPS. As a group, sell-side analysts forecast that Southside Bancshares, Inc. will post 2.84 EPS for the current year.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend was Thursday, May 22nd. Southside Bancshares's payout ratio is 49.48%.

Analysts Set New Price Targets

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

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.