Southside Bancshares, Inc. $SBSI Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its position in shares of Southside Bancshares, Inc. (NYSE:SBSI) by 1.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,031,944 shares of the company’s stock after purchasing an additional 31,575 shares during the quarter. Vanguard Group Inc. owned 0.07% of Southside Bancshares worth $61,751,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Southside Bancshares by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,382,523 shares of the company’s stock worth $39,056,000 after purchasing an additional 5,237 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Southside Bancshares by 16.9% during the 2nd quarter. Invesco Ltd. now owns 290,213 shares of the company’s stock worth $8,541,000 after purchasing an additional 42,057 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Southside Bancshares by 388.2% during the 3rd quarter. Millennium Management LLC now owns 251,429 shares of the company’s stock worth $7,103,000 after purchasing an additional 199,930 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Southside Bancshares by 13.8% during the 3rd quarter. Two Sigma Investments LP now owns 152,603 shares of the company’s stock worth $4,311,000 after purchasing an additional 18,462 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Southside Bancshares by 30.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 142,955 shares of the company’s stock worth $4,207,000 after purchasing an additional 33,443 shares during the last quarter. 55.70% of the stock is owned by institutional investors and hedge funds.

Southside Bancshares Trading Up 0.9%

NYSE SBSI opened at $32.34 on Friday. The company’s fifty day simple moving average is $31.82 and its 200-day simple moving average is $31.33. Southside Bancshares, Inc. has a 52 week low of $26.32 and a 52 week high of $34.53. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.66. The stock has a market cap of $962.30 million, a P/E ratio of 13.71 and a beta of 0.59.

Southside Bancshares (NYSE:SBSI) last posted its earnings results on Thursday, April 30th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Southside Bancshares had a net margin of 15.85% and a return on equity of 10.81%. The business had revenue of $70.29 million for the quarter, compared to analysts’ expectations of $70.92 million. Equities research analysts predict that Southside Bancshares, Inc. will post 3.43 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, May 18th. Southside Bancshares’s payout ratio is presently 61.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SBSI shares. Hovde Group raised their price target on shares of Southside Bancshares from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Monday, February 2nd. Weiss Ratings raised shares of Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Piper Sandler began coverage on shares of Southside Bancshares in a research note on Wednesday, April 15th. They set a “neutral” rating and a $35.00 price target on the stock. Wall Street Zen raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Southside Bancshares from $31.00 to $35.00 and gave the stock a “market perform” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.00.

About Southside Bancshares

Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company’s offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.

In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.