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Teacher Retirement System of Texas Purchases 337 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Defense World · Aug 28, 2022 05:01

Teacher Retirement System of Texas grew its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI – Get Rating) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,328 shares of the bank's stock after buying an additional 337 shares during the quarter. Teacher Retirement System of Texas' holdings in Southside Bancshares were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SBSI. Victory Capital Management Inc. lifted its holdings in shares of Southside Bancshares by 42.6% during the 1st quarter. Victory Capital Management Inc. now owns 303,558 shares of the bank's stock valued at $11,896,000 after buying an additional 90,754 shares during the period. Barclays PLC lifted its holdings in shares of Southside Bancshares by 79.8% during the 4th quarter. Barclays PLC now owns 74,071 shares of the bank's stock valued at $3,097,000 after buying an additional 32,876 shares during the period. Bank of Montreal Can lifted its holdings in shares of Southside Bancshares by 312.8% during the 4th quarter. Bank of Montreal Can now owns 42,570 shares of the bank's stock valued at $1,782,000 after buying an additional 32,258 shares during the period. Dimensional Fund Advisors LP raised its holdings in Southside Bancshares by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,250,603 shares of the bank's stock worth $52,300,000 after purchasing an additional 17,665 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Southside Bancshares in the 4th quarter worth $678,000. 51.25% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

SBSI has been the topic of a number of recent research reports. Piper Sandler decreased their target price on Southside Bancshares to $41.00 in a report on Monday, July 4th. Stephens increased their price target on Southside Bancshares to $43.00 in a research note on Tuesday, July 26th.

Insider Activity

In other news, insider Cindy Blackstone sold 2,005 shares of the firm's stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $39.44, for a total transaction of $79,077.20. Following the completion of the transaction, the insider now owns 2,021 shares in the company, valued at $79,708.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.70% of the company's stock.

Southside Bancshares Trading Down 1.2 %

Shares of SBSI stock opened at $38.68 on Friday. Southside Bancshares, Inc. has a 52-week low of $35.44 and a 52-week high of $45.36. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $1.24 billion, a PE ratio of 11.58 and a beta of 0.57. The stock has a fifty day simple moving average of $38.63 and a two-hundred day simple moving average of $39.60.

Southside Bancshares (NASDAQ:SBSI – Get Rating) last issued its quarterly earnings results on Monday, July 25th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period last year, the firm posted $0.65 earnings per share. On average, analysts predict that Southside Bancshares, Inc. will post 3.45 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.52%. Southside Bancshares's payout ratio is 40.72%.

Southside Bancshares 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.