Tower Research Capital LLC TRC Has $40,000 Stock Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Tower Research Capital LLC TRC decreased its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 61.0% in the fourth quarter, HoldingsChannel reports. The firm owned 1,271 shares of the bank’s stock after selling 1,991 shares during the period. Tower Research Capital LLC TRC’s holdings in Southside Bancshares were worth $40,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MetLife Investment Management LLC boosted 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 purchasing an additional 1,042 shares during the period. Dimensional Fund Advisors LP raised its stake in Southside Bancshares by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,319,916 shares of the bank’s stock valued at $41,921,000 after purchasing an additional 49,565 shares during the period. Mariner LLC raised its stake in Southside Bancshares by 25.5% during the 4th quarter. Mariner LLC now owns 9,190 shares of the bank’s stock valued at $292,000 after purchasing an additional 1,868 shares during the period. Barclays PLC raised its stake in Southside Bancshares by 3.4% during the 4th quarter. Barclays PLC now owns 61,289 shares of the bank’s stock valued at $1,946,000 after purchasing an additional 2,026 shares during the period. Finally, Sterling Capital Management LLC raised its stake in Southside Bancshares by 867.4% during the 4th quarter. Sterling Capital Management LLC now owns 919 shares of the bank’s stock valued at $29,000 after purchasing an additional 824 shares during the period. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Stock Up 0.4%

Shares of Southside Bancshares stock opened at $29.78 on Wednesday. The stock has a 50-day moving average price of $28.40 and a 200 day moving average price of $31.26. The company has a market cap of $899.77 million, a P/E ratio of 10.23 and a beta of 0.65. 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 1 year low of $25.30 and a 1 year 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, topping analysts’ consensus estimates of $0.67 by $0.04. Southside Bancshares had a return on equity of 11.10% and a net margin of 19.40%. The company had revenue of $100.29 million during the quarter, compared to the consensus estimate of $67.37 million. During the same period last year, the business earned $0.71 EPS. As a group, analysts expect that Southside Bancshares, Inc. will post 2.84 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Thursday, May 22nd. Southside Bancshares’s dividend payout ratio (DPR) is presently 49.48%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SBSI shares. Raymond James started coverage on Southside Bancshares in a research note on Tuesday, January 14th. They issued a “market perform” rating for the company. StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Finally, Stephens reduced 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 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.