Southside Bancshares, Inc. $SBSI Shares Purchased by Bayview Asset Management LLC

Bayview Asset Management LLC raised its holdings in shares of Southside Bancshares, Inc. (NYSE:SBSI) by 48.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 85,457 shares of the company’s stock after buying an additional 27,957 shares during the period. Southside Bancshares comprises 0.6% of Bayview Asset Management LLC’s portfolio, making the stock its 5th largest holding. Bayview Asset Management LLC’s holdings in Southside Bancshares were worth $2,597,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Aigen Investment Management LP acquired a new stake in Southside Bancshares during the 4th quarter valued at approximately $209,000. Kestra Advisory Services LLC bought a new position in Southside Bancshares during the 4th quarter worth approximately $45,000. Stifel Financial Corp bought a new position in Southside Bancshares during the 4th quarter worth approximately $230,000. Charles Schwab Investment Management Inc. lifted its holdings in Southside Bancshares by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 405,877 shares of the company’s stock worth $12,335,000 after buying an additional 37,253 shares during the last quarter. Finally, State Street Corp lifted its holdings in Southside Bancshares by 0.6% during the 4th quarter. State Street Corp now owns 1,308,609 shares of the company’s stock worth $39,769,000 after buying an additional 7,706 shares during the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SBSI shares. Weiss Ratings raised Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Piper Sandler assumed coverage on Southside Bancshares in a report on Wednesday, April 15th. They set a “neutral” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.00.

Southside Bancshares Trading Up 1.0%

Shares of NYSE SBSI opened at $34.36 on Friday. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 14.56 and a beta of 0.58. Southside Bancshares, Inc. has a 12-month low of $26.32 and a 12-month 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’s 50 day simple moving average is $32.83 and its 200 day simple moving average is $31.95.

Southside Bancshares (NYSE:SBSI) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $70.29 million for the quarter, compared to the consensus estimate of $70.92 million. Southside Bancshares had a return on equity of 10.81% and a net margin of 15.85%. Equities research analysts expect that Southside Bancshares, Inc. will post 3.43 EPS for the current year.

Southside Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.44 annualized dividend and a dividend yield of 4.2%. Southside Bancshares’s dividend payout ratio (DPR) is 61.02%.

Southside Bancshares Profile

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.