Northern Trust Corp Buys 17,564 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Northern Trust Corp raised its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 5.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 318,699 shares of the bank’s stock after purchasing an additional 17,564 shares during the quarter. Northern Trust Corp owned 1.05% of Southside Bancshares worth $10,122,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SBSI. Invesco Ltd. increased its stake in shares of Southside Bancshares by 139.9% in the fourth quarter. Invesco Ltd. now owns 292,680 shares of the bank’s stock worth $9,296,000 after buying an additional 170,685 shares during the period. JPMorgan Chase & Co. increased its position in shares of 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 acquiring an additional 126,587 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Southside Bancshares by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,319,916 shares of the bank’s stock worth $41,921,000 after purchasing an additional 49,565 shares during the last quarter. Barclays PLC increased its holdings in Southside Bancshares by 137.6% during the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank’s stock valued at $1,981,000 after purchasing an additional 34,316 shares during the period. Finally, Wedge Capital Management L L P NC bought a new position in Southside Bancshares during the 4th quarter valued at approximately $673,000. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SBSI shares. Stephens cut their price objective on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. StockNews.com raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, May 9th.

Southside Bancshares Stock Down 0.8%

SBSI stock opened at $29.66 on Friday. Southside Bancshares, Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $38.00. The company has a market capitalization of $896.12 million, a price-to-earnings ratio of 10.19 and a beta of 0.65. The business’s 50 day moving average price is $28.44 and its two-hundred day moving average price is $31.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. The company had revenue of $100.29 million for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $0.71 earnings per share. As a group, analysts forecast that Southside Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be paid a $0.36 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.44 annualized dividend and a dividend yield of 4.86%. 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.