Royce & Associates LP lowered its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 16.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,409 shares of the bank's stock after selling 1,902 shares during the quarter. Royce & Associates LP's holdings in Southside Bancshares were worth $384,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of SBSI. Allspring Global Investments Holdings LLC acquired a new stake in Southside Bancshares in the 4th quarter valued at about $756,000. Yousif Capital Management LLC acquired a new stake in Southside Bancshares in the 4th quarter valued at about $1,253,000. Assenagon Asset Management S.A. acquired a new stake in Southside Bancshares in the 4th quarter valued at about $3,595,000. Fisher Asset Management LLC lifted its holdings in Southside Bancshares by 39.0% in the 4th quarter. Fisher Asset Management LLC now owns 30,161 shares of the bank's stock valued at $1,261,000 after acquiring an additional 8,466 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in Southside Bancshares in the 4th quarter valued at about $399,000. Institutional investors and hedge funds own 51.25% of the company's stock.
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Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Piper Sandler cut their price target on shares of Southside Bancshares to $41.00 in a report on Monday, July 4th. Stephens upped their price target on shares of Southside Bancshares to $43.00 in a report on Tuesday, July 26th.
Insider Activity
In other news, insider Cindy Blackstone sold 2,005 shares of the company's stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $39.44, for a total value of $79,077.20. Following the transaction, the insider now owns 2,021 shares in the company, valued at approximately $79,708.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.70% of the stock is owned by corporate insiders.
Southside Bancshares Price Performance
NASDAQ SBSI opened at $39.89 on Monday. The stock's 50-day moving average price is $38.23 and its two-hundred day moving average price is $39.81. The company has a current ratio of 0.64, a quick ratio of 0.66 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.28 billion, a PE ratio of 11.94 and a beta of 0.57. Southside Bancshares, Inc. has a 1 year low of $35.44 and a 1 year high of $45.36.
Southside Bancshares (NASDAQ:SBSI – Get Rating) last posted its quarterly earnings data on Monday, July 25th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.03. Southside Bancshares had a return on equity of 13.17% and a net margin of 40.84%. During the same quarter in the prior year, the firm posted $0.65 EPS. On average, analysts predict that Southside Bancshares, Inc. will post 3.31 EPS for the current year.
Southside Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.41%. Southside Bancshares's dividend payout ratio is 40.72%.
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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