Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Acquired by Comerica Bank

Comerica Bank increased its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 50.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,078 shares of the bank’s stock after purchasing an additional 6,054 shares during the quarter. Comerica Bank’s holdings in Southside Bancshares were worth $574,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Barclays PLC grew its stake 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 in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Southside Bancshares during the 4th quarter valued at approximately $673,000. Empowered Funds LLC grew its stake in Southside Bancshares by 5.1% during the 4th quarter. Empowered Funds LLC now owns 78,013 shares of the bank’s stock valued at $2,478,000 after purchasing an additional 3,763 shares in the last quarter. Rhumbline Advisers grew its stake in Southside Bancshares by 1.4% during the 4th quarter. Rhumbline Advisers now owns 87,307 shares of the bank’s stock valued at $2,773,000 after purchasing an additional 1,244 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in Southside Bancshares by 1.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 59,618 shares of the bank’s stock valued at $1,893,000 after purchasing an additional 932 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SBSI. StockNews.com upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Stephens lowered their price objective on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, January 30th.

Southside Bancshares Price Performance

Shares of SBSI opened at $29.68 on Thursday. The firm has a market cap of $896.75 million, a price-to-earnings ratio of 10.20 and a beta of 0.65. The stock has a 50 day moving average of $28.40 and a 200-day moving average of $31.25. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $38.00.

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

Southside Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be given a $0.36 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.44 annualized dividend and a dividend yield of 4.85%. 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.