Swiss National Bank increased its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI – Get Rating) by 6.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,518 shares of the bank's stock after buying an additional 4,200 shares during the period. Swiss National Bank owned about 0.23% of Southside Bancshares worth $2,961,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in Southside Bancshares during the 4th quarter worth approximately $28,000. Nisa Investment Advisors LLC acquired a new position in shares of Southside Bancshares in the 1st quarter worth approximately $32,000. Gibson Wealth Advisors LLC acquired a new position in shares of Southside Bancshares in the 4th quarter worth approximately $45,000. Inspire Investing LLC acquired a new position in shares of Southside Bancshares in the 1st quarter worth approximately $237,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Southside Bancshares in the 4th quarter worth approximately $251,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Stephens boosted their price target on shares of Southside Bancshares to $43.00 in a research report on Tuesday, July 26th. Piper Sandler dropped their price target on shares of Southside Bancshares to $41.00 in a research report on Monday, July 4th.
Southside Bancshares Stock Down 1.7 %
Southside Bancshares stock opened at $38.03 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.30. Southside Bancshares, Inc. has a 12-month low of $35.44 and a 12-month high of $45.36. The firm's fifty day moving average is $38.65 and its 200 day moving average is $39.55. The company has a market capitalization of $1.22 billion, a PE ratio of 11.39 and a beta of 0.57.
Southside Bancshares (NASDAQ:SBSI – Get Rating) last released its earnings results on Monday, July 25th. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.03. Southside Bancshares had a net margin of 40.84% and a return on equity of 13.17%. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, sell-side analysts predict that Southside Bancshares, Inc. will post 3.45 EPS for the current fiscal year.
Southside Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, August 17th. This represents a $1.36 dividend on an annualized basis and a yield of 3.58%. Southside Bancshares's dividend payout ratio (DPR) is presently 40.72%.
Insider Buying and Selling at Southside Bancshares
In other Southside Bancshares news, insider Cindy Blackstone sold 2,005 shares of the business's stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $39.44, for a total transaction of $79,077.20. Following the completion of the sale, the insider now owns 2,021 shares in the company, valued at approximately $79,708.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.70% of the stock is currently owned by company insiders.
Southside Bancshares Company Profile
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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 deposit.
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