Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 60.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,003 shares of the bank's stock after acquiring an additional 24,172 shares during the quarter. Millennium Management LLC owned about 0.21% of Southside Bancshares worth $2,033,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Sterling Capital Management LLC increased its holdings in Southside Bancshares by 867.4% during the fourth quarter. Sterling Capital Management LLC now owns 919 shares of the bank's stock worth $29,000 after buying an additional 824 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Southside Bancshares during the fourth quarter worth about $103,000. Quantbot Technologies LP increased its stake in shares of Southside Bancshares by 34.9% in the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock valued at $124,000 after buying an additional 1,006 shares during the period. Aquatic Capital Management LLC boosted its holdings in shares of 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 buying an additional 1,443 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Southside Bancshares during the 4th quarter worth approximately $178,000. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Southside Bancshares Stock Up 0.0%

SBSI stock traded up $0.00 during midday trading on Thursday, hitting $27.83. The stock had a trading volume of 112,301 shares, compared to its average volume of 117,399. 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 business has a 50-day moving average of $28.17 and a two-hundred day moving average of $30.58. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00. The firm has a market cap of $840.98 million, a price-to-earnings ratio of 9.56 and a beta of 0.65.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. Southside Bancshares had a return on equity of 11.10% and a net margin of 19.40%. The firm had revenue of $100.29 million for the quarter, compared to the consensus estimate of $67.37 million. During the same quarter last year, the company earned $0.71 earnings per share. As a group, equities research analysts forecast that Southside Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Thursday, May 22nd. Southside Bancshares's dividend payout ratio is currently 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.