King Luther Capital Management Corp lessened its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,453 shares of the bank’s stock after selling 8,632 shares during the quarter. King Luther Capital Management Corp owned about 0.26% of Southside Bancshares worth $2,906,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Southside Bancshares by 43.1% in the 4th quarter. SG Americas Securities LLC now owns 5,475 shares of the bank’s stock worth $174,000 after acquiring an additional 1,648 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Southside Bancshares by 66,530.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,663 shares of the bank’s stock valued at $221,000 after buying an additional 6,653 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Southside Bancshares during the fourth quarter valued at $236,000. Metropolitan Life Insurance Co. NY grew its holdings in shares of Southside Bancshares by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,967 shares of the bank’s stock valued at $348,000 after buying an additional 8,565 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Southside Bancshares during the fourth quarter valued at $388,000. Institutional investors and hedge funds own 53.35% of the company’s stock.
A number of research analysts have recently weighed in on the company. BidaskClub upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Zacks Investment Research downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th.
Shares of NASDAQ:SBSI traded up $0.26 on Friday, reaching $32.38. The company had a trading volume of 79,645 shares, compared to its average volume of 117,260. Southside Bancshares, Inc. has a twelve month low of $29.28 and a twelve month high of $37.32. The company has a 50-day moving average of $33.47. The stock has a market cap of $1.09 billion, a PE ratio of 15.35 and a beta of 0.82. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.03.
Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Friday, April 26th. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. Southside Bancshares had a return on equity of 10.37% and a net margin of 28.23%. The firm had revenue of $53.05 million during the quarter, compared to analysts’ expectations of $54.48 million. During the same quarter in the prior year, the firm posted $0.46 EPS. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, research analysts anticipate that Southside Bancshares, Inc. will post 2.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.31 per share. This is an increase from Southside Bancshares’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 3.83%. The ex-dividend date was Wednesday, May 22nd. Southside Bancshares’s payout ratio is currently 58.77%.
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 deposit.
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