Today's Financial Stock Winners and Losers

Southside Bancshares(SBSI Quote) surged Monday after the Tyler, Tex.-based bank said that First National Bank Group applied to the Federal Reserve Board for approval to acquire up to 9.9% of Southside Bancshares' outstanding common stock in open-market purchases.

If approved and completed, the investment will make First National Bank Group the company's largest shareholder. First National Bank Group, which is the Edinburg, Tex.-based parent company of First National Bank of Edinburg, will not have a presence on the board of directors or an influence on policies or procedures of the company. Shares of Southside Bancshares gained $1.09, or 5.8%, to close at $19.94 Monday.

Shore Bancshares(SHBI Quote) gained after the Easton, Md.-based financial holding company said its board of directors declared a 22-cent cash dividend on its common shares and a 3-for-2 common stock dividend, as well as elected Christopher F. Spurry to serve as chairman of the board.

The cash dividend will be paid May 31 to stockholders of record May 15. The increase of 1 cent a share from the previous quarterly cash dividend brings the annualized dividend yield on the shares of common stock to 2.2% based on the closing price of the stock on May 11. The stock dividend will be paid on June 5 to stockholders of record on May 22.

As of May 12, there were about 5.6 million shares of the company's common stock issued and outstanding. The company expects that its common stock will begin trading on a split-adjusted basis on June 6. Shares gained $1.32, or 3.3%, to close Monday at $41.47.