Northern Trust Corp Has $10.12 Million Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Northern Trust Corp lifted its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 5.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 318,699 shares of the bank's stock after acquiring an additional 17,564 shares during the period. Northern Trust Corp owned approximately 1.05% of Southside Bancshares worth $10,122,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sterling Capital Management LLC lifted its position 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 purchasing an additional 824 shares during the period. Quantbot Technologies LP lifted its position in Southside Bancshares by 34.9% during 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 lifted its position in Southside Bancshares by 39.0% during 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. KLP Kapitalforvaltning AS bought a new stake in Southside Bancshares during the fourth quarter worth about $178,000. Finally, Magnetar Financial LLC bought a new stake in Southside Bancshares during the fourth quarter worth about $218,000. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBSI has been the subject of several recent analyst reports. Stephens cut their price objective on shares of Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating for the company in a research report on Thursday, January 30th. Wall Street Zen raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, May 9th.

Southside Bancshares Price Performance

Shares of SBSI stock traded down $0.16 on Friday, reaching $27.96. The company had a trading volume of 112,521 shares, compared to its average volume of 117,239. The stock has a market capitalization of $844.69 million, a PE ratio of 9.61 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. Southside Bancshares, Inc. has a one year low of $25.30 and a one year high of $38.00. The business's 50-day moving average is $28.40 and its 200 day moving average is $31.08.

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

Southside Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a $0.36 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.15%. Southside Bancshares's dividend payout ratio (DPR) is currently 49.48%.

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.