Wedge Capital Management L L P NC Acquires 5,364 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Wedge Capital Management L L P NC lifted its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 25.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,556 shares of the bank’s stock after purchasing an additional 5,364 shares during the quarter. Wedge Capital Management L L P NC owned 0.09% of Southside Bancshares worth $769,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC grew its stake in Southside Bancshares by 867.4% in 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 purchased a new position in Southside Bancshares in the fourth quarter worth $103,000. Quantbot Technologies LP grew its position in 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 acquiring an additional 1,006 shares in the last quarter. Aquatic Capital Management LLC increased its stake in Southside Bancshares by 39.0% in the fourth quarter. Aquatic Capital Management LLC now owns 5,143 shares of the bank’s stock valued at $163,000 after acquiring an additional 1,443 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Southside Bancshares during the fourth quarter valued at about $178,000. 55.70% of the stock is currently owned by institutional investors.

Southside Bancshares Trading Down 0.4%

Shares of SBSI opened at $28.83 on Thursday. The firm has a market cap of $870.92 million, a price-to-earnings ratio of 9.91 and a beta of 0.66. 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, Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $38.00. The firm has a 50 day moving average price of $28.22 and a 200-day moving average price of $30.39.

Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Tuesday, April 29th. The bank reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 19.40% and a return on equity of 11.10%. During the same quarter last year, the company earned $0.71 EPS. As a group, equities research analysts forecast that Southside Bancshares, Inc. will post 2.84 earnings per share for the current year.

Southside Bancshares Dividend Announcement

The business also recently announced 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 5.00%. The ex-dividend date was Thursday, May 22nd. Southside Bancshares’s dividend payout ratio (DPR) is presently 49.48%.

Analyst Ratings Changes

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

About Southside Bancshares

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.