Millennium Management LLC Acquires 24,172 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

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

Other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Southside Bancshares by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,348 shares of the bank's stock valued at $519,000 after buying an additional 571 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Southside Bancshares by 867.4% in the 4th quarter. Sterling Capital Management LLC now owns 919 shares of the bank's stock valued at $29,000 after purchasing an additional 824 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Southside Bancshares by 1.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 59,618 shares of the bank's stock valued at $1,893,000 after purchasing an additional 932 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Southside Bancshares by 34.9% during the 4th quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock valued at $124,000 after purchasing an additional 1,006 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Southside Bancshares by 6.4% in the 4th quarter. MetLife Investment Management LLC now owns 17,279 shares of the bank's stock valued at $549,000 after purchasing an additional 1,042 shares during the last quarter. Institutional investors and hedge funds own 55.70% of the company's stock.

Wall Street Analyst Weigh In

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 Stock Down 0.7%

Shares of NASDAQ:SBSI traded down $0.19 during mid-day trading on Wednesday, hitting $27.85. 41,686 shares of the company traded hands, compared to its average volume of 116,702. The stock has a 50-day moving average price of $28.22 and a two-hundred day moving average price of $30.65. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-month high of $38.00. The stock has a market cap of $841.46 million, a P/E ratio of 9.57 and a beta of 0.65. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last announced 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. The firm had revenue of $100.29 million during the quarter, compared to the consensus estimate of $67.37 million. Southside Bancshares had a return on equity of 11.10% and a net margin of 19.40%. During the same quarter in the prior year, the company earned $0.71 EPS. On average, equities research analysts forecast that Southside Bancshares, Inc. will post 2.84 earnings per share for the current year.

Southside Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date 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.