ProShare Advisors LLC Has $7.78 Million Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

ProShare Advisors LLC grew its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,202 shares of the bank’s stock after purchasing an additional 2,456 shares during the quarter. ProShare Advisors LLC’s holdings in Southside Bancshares were worth $7,781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Texas Permanent School Fund Corp raised its holdings in Southside Bancshares by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 25,150 shares of the bank’s stock valued at $735,000 after acquiring an additional 369 shares during the period. SG Americas Securities LLC grew its position in shares of Southside Bancshares by 16.9% in the fourth quarter. SG Americas Securities LLC now owns 7,722 shares of the bank’s stock valued at $242,000 after purchasing an additional 1,115 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Southside Bancshares by 11.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,774 shares of the bank’s stock worth $557,000 after purchasing an additional 1,834 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Southside Bancshares by 16.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 13,990 shares of the bank’s stock worth $409,000 after purchasing an additional 1,943 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Southside Bancshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 65,458 shares of the bank’s stock valued at $1,913,000 after purchasing an additional 4,900 shares during the period. Institutional investors own 55.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SBSI shares. Hovde Group dropped their target price on Southside Bancshares from $35.00 to $31.00 and set a “market perform” rating for the company in a report on Thursday, May 9th. StockNews.com upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd.

Southside Bancshares Stock Up 1.1 %

SBSI stock opened at $31.44 on Thursday. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $34.40. The business has a 50-day simple moving average of $27.07 and a 200 day simple moving average of $28.39. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.78. The company has a market cap of $952.00 million, a PE ratio of 11.69 and a beta of 0.55.

Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Thursday, April 25th. The bank reported $0.71 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.04). The firm had revenue of $112.48 million during the quarter, compared to analyst estimates of $67.10 million. Southside Bancshares had a net margin of 19.79% and a return on equity of 10.80%. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Sell-side analysts anticipate that Southside Bancshares, Inc. will post 2.7 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were paid a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $1.44 annualized dividend and a dividend yield of 4.58%. Southside Bancshares’s payout ratio is 53.53%.

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.