Invesco Ltd. Boosts Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Invesco Ltd. raised its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 139.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,680 shares of the bank's stock after buying an additional 170,685 shares during the period. Invesco Ltd. owned about 0.97% of Southside Bancshares worth $9,296,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Southside Bancshares by 61.1% during the fourth quarter. GAMMA Investing LLC now owns 1,337 shares of the bank's stock valued at $42,000 after acquiring an additional 507 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Southside Bancshares by 1.6% during the fourth 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 acquiring an additional 932 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Southside Bancshares by 34.9% during the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock valued at $124,000 after acquiring an additional 1,006 shares during the last quarter. Rhumbline Advisers raised its stake in Southside Bancshares by 1.4% in the fourth quarter. Rhumbline Advisers now owns 87,307 shares of the bank's stock worth $2,773,000 after buying an additional 1,244 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Southside Bancshares by 0.5% in the third quarter. Geode Capital Management LLC now owns 671,666 shares of the bank's stock worth $22,458,000 after buying an additional 3,097 shares in the last quarter. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

Southside Bancshares Stock Down 2.7 %

Southside Bancshares stock traded down $0.78 during mid-day trading on Tuesday, hitting $27.75. The company had a trading volume of 6,646 shares, compared to its average volume of 115,272. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. The stock's 50 day moving average price is $28.74 and its two-hundred day moving average price is $31.62. Southside Bancshares, Inc. has a 12 month low of $25.30 and a 12 month high of $38.00. The company has a market capitalization of $843.32 million, a PE ratio of 9.53 and a beta of 0.58.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last released its earnings results 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%. During the same period in the prior year, the business earned $0.71 EPS. As a group, sell-side analysts anticipate that Southside Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Southside Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares's dividend payout ratio (DPR) is 49.48%.

Analysts Set New Price Targets

SBSI has been the subject of a number of research reports. StockNews.com raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Raymond James started coverage on shares of Southside Bancshares in a research note on Tuesday, January 14th. They issued a "market perform" rating for the company. Finally, Stephens lowered their target price 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.

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.