Hennion & Walsh Asset Management Inc. Purchases 3,182 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Hennion & Walsh Asset Management Inc. raised its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 19.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,283 shares of the bank’s stock after buying an additional 3,182 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.06% of Southside Bancshares worth $558,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in Southside Bancshares by 139.9% in the 4th quarter. Invesco Ltd. now owns 292,680 shares of the bank’s stock valued at $9,296,000 after buying an additional 170,685 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Southside Bancshares by 32.9% in the fourth quarter. JPMorgan Chase & Co. now owns 511,741 shares of the bank’s stock valued at $16,253,000 after buying an additional 126,587 shares during the period. Dimensional Fund Advisors LP increased its stake in Southside Bancshares by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,319,916 shares of the bank’s stock valued at $41,921,000 after purchasing an additional 49,565 shares in the last quarter. GAMMA Investing LLC grew its holdings in Southside Bancshares by 2,583.7% during the first quarter. GAMMA Investing LLC now owns 35,881 shares of the bank’s stock worth $1,039,000 after buying an additional 34,544 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of 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 in the last quarter. Institutional investors own 55.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Friday, May 9th.

Southside Bancshares Stock Up 1.7%

SBSI opened at $28.30 on Friday. The company has a market capitalization of $854.91 million, a PE ratio of 9.72 and a beta of 0.66. 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 firm’s 50 day simple moving average is $28.16 and its two-hundred day simple moving average is $30.50. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-year high of $38.00.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $0.71 earnings per share 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 quarter in the previous year, the business posted $0.71 earnings per share. As a group, equities analysts forecast that Southside Bancshares, Inc. will post 2.84 EPS for the current year.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were given a dividend of $0.36 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 5.09%. Southside Bancshares’s dividend payout ratio is presently 49.48%.

About Southside Bancshares

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.