GAMMA Investing LLC Has $1.04 Million Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

GAMMA Investing LLC boosted its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 2,583.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,881 shares of the bank's stock after purchasing an additional 34,544 shares during the quarter. GAMMA Investing LLC owned 0.12% of Southside Bancshares worth $1,039,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SBSI. Quantbot Technologies LP lifted its position in shares of 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 period. Deutsche Bank AG raised its stake in shares of Southside Bancshares by 53.9% in the fourth quarter. Deutsche Bank AG now owns 27,043 shares of the bank's stock valued at $859,000 after purchasing an additional 9,466 shares in the last quarter. Amundi lifted its position in Southside Bancshares by 168.5% in the fourth quarter. Amundi now owns 13,749 shares of the bank's stock worth $423,000 after purchasing an additional 8,628 shares during the period. Rhumbline Advisers raised its stake in shares of Southside Bancshares by 1.4% in the 4th quarter. Rhumbline Advisers now owns 87,307 shares of the bank's stock valued at $2,773,000 after buying an additional 1,244 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Southside Bancshares by 4.6% in the 4th quarter. American Century Companies Inc. now owns 282,254 shares of the bank's stock valued at $8,964,000 after buying an additional 12,345 shares in the last quarter. 55.70% of the stock is owned by institutional investors.

Southside Bancshares Price Performance

Shares of SBSI traded up $0.30 during mid-day trading on Thursday, reaching $28.00. The company had a trading volume of 110,706 shares, compared to its average volume of 118,031. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $846.11 million, a P/E ratio of 9.62 and a beta of 0.66. Southside Bancshares, Inc. has a twelve month low of $25.78 and a twelve month high of $38.00. The company's 50-day moving average is $28.33 and its 200-day moving average is $30.14.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.04. Southside Bancshares had a return on equity of 11.10% and a net margin of 19.40%. The company had revenue of $100.29 million during the quarter, compared to analysts' expectations of $67.37 million. During the same period last year, the business earned $0.71 earnings per share. On average, equities analysts anticipate that Southside Bancshares, Inc. will post 2.84 EPS for the current year.

Southside Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors 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 5.14%. The ex-dividend date was Thursday, May 22nd. Southside Bancshares's dividend payout ratio is currently 49.48%.

Analyst Upgrades and Downgrades

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 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.