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

ProShare Advisors LLC lifted its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 5.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 229,110 shares of the bank’s stock after purchasing an additional 11,397 shares during the quarter. ProShare Advisors LLC owned about 0.76% of Southside Bancshares worth $7,277,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SBSI. Barclays PLC increased its stake in Southside Bancshares by 137.6% during the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank’s stock worth $1,981,000 after buying an additional 34,316 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of Southside Bancshares in the fourth quarter worth $673,000. Empowered Funds LLC increased its position in shares of Southside Bancshares by 5.1% during the fourth quarter. Empowered Funds LLC now owns 78,013 shares of the bank’s stock worth $2,478,000 after acquiring an additional 3,763 shares during the period. Rhumbline Advisers raised its stake in shares of Southside Bancshares by 1.4% in the fourth quarter. Rhumbline Advisers now owns 87,307 shares of the bank’s stock valued at $2,773,000 after acquiring an additional 1,244 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake 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 valued at $1,893,000 after acquiring an additional 932 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Analyst Upgrades and Downgrades

SBSI has been the subject of several analyst reports. Stephens lowered their target price on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, January 30th. StockNews.com raised 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 opened at $29.66 on Monday. 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 company has a fifty day simple moving average of $28.44 and a 200-day simple moving average of $31.19. The stock has a market cap of $896.12 million, a P/E ratio of 10.19 and a beta of 0.65. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-month high of $38.00.

Southside Bancshares (NASDAQ:SBSI) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. The company had revenue of $100.29 million during the quarter, compared to the consensus estimate of $67.37 million. Southside Bancshares had a return on equity of 11.10% and a net margin of 19.40%. During the same period in the previous year, the business earned $0.71 EPS. Equities analysts expect that Southside Bancshares, Inc. will post 2.84 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.86%. The ex-dividend date is Thursday, May 22nd. Southside Bancshares’s payout ratio is 49.48%.

Southside Bancshares Company 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.