ProShare Advisors LLC Grows Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

ProShare Advisors LLC grew its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,110 shares of the bank's stock after acquiring an additional 11,397 shares during the period. ProShare Advisors LLC owned 0.76% of Southside Bancshares worth $7,277,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Southside Bancshares by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,348 shares of the bank's stock worth $519,000 after purchasing an additional 571 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Southside Bancshares by 867.4% during the fourth quarter. Sterling Capital Management LLC now owns 919 shares of the bank's stock valued at $29,000 after buying an additional 824 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of Southside Bancshares by 1.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 59,618 shares of the bank's stock worth $1,893,000 after buying an additional 932 shares in the last quarter. Quantbot Technologies LP lifted its holdings 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 worth $124,000 after buying an additional 1,006 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Southside Bancshares by 6.4% in the fourth quarter. MetLife Investment Management LLC now owns 17,279 shares of the bank's stock valued at $549,000 after acquiring an additional 1,042 shares during the period. 55.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on SBSI shares. Stephens lowered their target price on shares of Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 30th. Wall Street Zen upgraded Southside Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, May 9th.

Southside Bancshares Price Performance

Southside Bancshares stock traded down $0.13 during mid-day trading on Friday, hitting $28.00. 29,895 shares of the company traded hands, compared to its average volume of 116,754. Southside Bancshares, Inc. has a one year low of $25.30 and a one year high of $38.00. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $845.84 million, a price-to-earnings ratio of 9.62 and a beta of 0.65. The stock has a fifty day moving average price of $28.42 and a 200-day moving average price of $31.11.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.04. The business had revenue of $100.29 million for 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 period last year, the business earned $0.71 earnings per share. On average, equities analysts predict that Southside Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Southside Bancshares Announces Dividend

The business 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 $0.36 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.44 annualized dividend and a dividend yield of 5.14%. 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.