New York State Teachers Retirement System Purchases 1,244 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

New York State Teachers Retirement System boosted its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 15.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 9,182 shares of the bank’s stock after buying an additional 1,244 shares during the period. New York State Teachers Retirement System’s holdings in Southside Bancshares were worth $266,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in SBSI. Naples Global Advisors LLC boosted its holdings in shares of Southside Bancshares by 3.8% in the 1st quarter. Naples Global Advisors LLC now owns 10,924 shares of the bank’s stock valued at $316,000 after buying an additional 400 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Southside Bancshares by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,348 shares of the bank’s stock valued at $519,000 after acquiring an additional 571 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Southside Bancshares by 867.4% during the fourth quarter. Sterling Capital Management LLC now owns 919 shares of the bank’s stock worth $29,000 after purchasing an additional 824 shares during the period. Quantbot Technologies LP increased its position in shares of Southside Bancshares by 34.9% in the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank’s stock worth $124,000 after purchasing an additional 1,006 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Southside Bancshares by 6.4% in the 4th quarter. MetLife Investment Management LLC now owns 17,279 shares of the bank’s stock valued at $549,000 after buying an additional 1,042 shares in the last quarter. 55.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Southside Bancshares Stock Performance

Southside Bancshares stock opened at $31.15 on Friday. Southside Bancshares, Inc. has a 1 year low of $25.85 and a 1 year high of $38.00. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $941.08 million, a P/E ratio of 10.70 and a beta of 0.67. The business has a 50 day moving average of $29.00 and a 200-day moving average of $29.65.

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, beating the consensus estimate of $0.67 by $0.04. The company had revenue of $100.29 million during 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 quarter in the prior year, the firm posted $0.71 earnings per share. On average, equities research analysts predict that Southside Bancshares, Inc. will post 2.84 earnings per share for the current year.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Thursday, May 22nd. Southside Bancshares’s dividend 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.