ProShare Advisors LLC lifted its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 5.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 229,110 shares of the bank's stock after acquiring an additional 11,397 shares during the period. ProShare Advisors LLC owned approximately 0.76% of Southside Bancshares worth $7,277,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Southside Bancshares by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,319,916 shares of the bank's stock worth $41,921,000 after acquiring an additional 49,565 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Southside Bancshares by 4.0% during the 4th quarter. Renaissance Technologies LLC now owns 538,985 shares of the bank's stock worth $17,118,000 after acquiring an additional 20,800 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Southside Bancshares by 32.9% during the 4th quarter. JPMorgan Chase & Co. now owns 511,741 shares of the bank's stock worth $16,253,000 after acquiring an additional 126,587 shares during the period. Northern Trust Corp lifted its holdings in shares of Southside Bancshares by 5.8% during the 4th quarter. Northern Trust Corp now owns 318,699 shares of the bank's stock worth $10,122,000 after acquiring an additional 17,564 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Southside Bancshares by 139.9% during the 4th quarter. Invesco Ltd. now owns 292,680 shares of the bank's stock worth $9,296,000 after acquiring an additional 170,685 shares during the period. 55.70% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently commented on SBSI. Stephens reduced 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 report on Thursday, January 30th. Wall Street Zen raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a report on Friday, May 9th.
Read Our Latest Stock Analysis on SBSI
Southside Bancshares Price Performance
Shares of NASDAQ SBSI traded down $0.16 during mid-day trading on Friday, hitting $27.96. 112,521 shares of the stock were exchanged, compared to its average volume of 117,447. The company has a market cap of $844.69 million, a P/E ratio of 9.61 and a beta of 0.65. The stock's fifty day simple moving average is $28.40 and its two-hundred day simple moving average is $31.03. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. Southside Bancshares, Inc. has a twelve month low of $25.30 and a twelve month high of $38.00.
Southside Bancshares (NASDAQ:SBSI - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $100.29 million during the quarter, compared to analyst estimates 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 last year, the business posted $0.71 earnings per share. As a group, analysts forecast that Southside Bancshares, Inc. will post 2.84 EPS for the current fiscal year.
Southside Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.15%. The ex-dividend date is Thursday, May 22nd. Southside Bancshares's payout ratio is 49.48%.
About Southside Bancshares
(
Free Report)
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.
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