GAMMA Investing LLC Has $1.04 Million Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

GAMMA Investing LLC boosted its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 2,583.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,881 shares of the bank’s stock after buying an additional 34,544 shares during the quarter. GAMMA Investing LLC owned approximately 0.12% of Southside Bancshares worth $1,039,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in Southside Bancshares by 867.4% during the 4th quarter. Sterling Capital Management LLC now owns 919 shares of the bank’s stock worth $29,000 after buying an additional 824 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Southside Bancshares during the 4th quarter worth $103,000. Quantbot Technologies LP lifted its holdings in Southside Bancshares by 34.9% during the 4th quarter. Quantbot Technologies LP now owns 3,890 shares of the bank’s stock worth $124,000 after buying an additional 1,006 shares in the last quarter. Aquatic Capital Management LLC lifted its holdings in Southside Bancshares by 39.0% during the 4th quarter. Aquatic Capital Management LLC now owns 5,143 shares of the bank’s stock worth $163,000 after buying an additional 1,443 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Southside Bancshares during the 4th quarter worth $178,000. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Stock Performance

SBSI stock opened at $27.93 on Tuesday. The business’s fifty day moving average is $28.32 and its 200-day moving average is $30.17. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. The company has a market cap of $843.82 million, a P/E ratio of 9.60 and a beta of 0.66. Southside Bancshares, Inc. has a twelve month low of $25.30 and a twelve month high of $38.00.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results 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 company had revenue of $100.29 million for 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 quarter in the prior year, the business posted $0.71 EPS. Equities research analysts forecast that Southside Bancshares, Inc. will post 2.84 EPS for the current year.

Southside Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date was Thursday, May 22nd. Southside Bancshares’s dividend payout ratio is currently 49.48%.

Wall Street Analyst Weigh In

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

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 deposits.