BlackRock Inc. lifted its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,613,119 shares of the bank’s stock after purchasing an additional 237,122 shares during the quarter. BlackRock Inc. owned about 0.10% of Southside Bancshares worth $125,521,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its position in shares of Southside Bancshares by 1.1% during the 1st quarter. Northern Trust Corp now owns 542,986 shares of the bank’s stock worth $18,863,000 after purchasing an additional 5,942 shares in the last quarter. Chatham Capital Group Inc. boosted its position in shares of Southside Bancshares by 60.3% during the 1st quarter. Chatham Capital Group Inc. now owns 40,331 shares of the bank’s stock worth $1,401,000 after purchasing an additional 15,175 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Southside Bancshares by 3.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 141,459 shares of the bank’s stock worth $4,915,000 after purchasing an additional 4,425 shares in the last quarter. Swiss National Bank boosted its position in shares of Southside Bancshares by 4.1% during the 1st quarter. Swiss National Bank now owns 48,618 shares of the bank’s stock worth $1,689,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Southside Bancshares by 26.4% during the 1st quarter. Victory Capital Management Inc. now owns 31,510 shares of the bank’s stock worth $1,095,000 after purchasing an additional 6,581 shares in the last quarter. 46.31% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on SBSI. BidaskClub cut shares of Southside Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. Zacks Investment Research cut shares of Southside Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 17th. Finally, ValuEngine cut shares of Southside Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $38.00.
Shares of NASDAQ SBSI opened at $34.40 on Tuesday. Southside Bancshares, Inc. has a fifty-two week low of $31.20 and a fifty-two week high of $37.57. The stock has a market capitalization of $1.22 billion, a P/E ratio of 18.27 and a beta of 0.73. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21.
Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Tuesday, May 1st. The bank reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.11). Southside Bancshares had a net margin of 23.43% and a return on equity of 8.91%. The business had revenue of $56.77 million during the quarter, compared to the consensus estimate of $56.44 million. During the same period in the previous year, the business posted $0.51 EPS. Southside Bancshares’s revenue was up 9.0% compared to the same quarter last year. sell-side analysts expect that Southside Bancshares, Inc. will post 2.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 7th. Investors of record on Thursday, May 24th were given a $0.30 dividend. This is a boost from Southside Bancshares’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, May 23rd. This represents a $1.20 annualized dividend and a yield of 3.49%. Southside Bancshares’s dividend payout ratio (DPR) is presently 63.49%.
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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