Royal Bank of Canada Grows Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Royal Bank of Canada lifted its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI – Get Rating) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 266,497 shares of the bank’s stock after purchasing an additional 905 shares during the period. Royal Bank of Canada owned about 0.83% of Southside Bancshares worth $9,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBSI. Nisa Investment Advisors LLC lifted its position in Southside Bancshares by 48.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,157 shares of the bank’s stock valued at $43,000 after acquiring an additional 377 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in Southside Bancshares by 387.6% in the third quarter. Point72 Hong Kong Ltd now owns 1,921 shares of the bank’s stock valued at $68,000 after acquiring an additional 1,527 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Southside Bancshares in the second quarter valued at $100,000. Quantbot Technologies LP purchased a new stake in Southside Bancshares in the second quarter valued at $105,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Southside Bancshares by 17.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,786 shares of the bank’s stock valued at $169,000 after acquiring an additional 709 shares during the last quarter. 53.13% of the stock is owned by hedge funds and other institutional investors.

Southside Bancshares Price Performance

Shares of NASDAQ:SBSI opened at $34.99 on Friday. The company has a 50-day simple moving average of $37.37 and a 200-day simple moving average of $36.58. Southside Bancshares, Inc. has a one year low of $31.18 and a one year high of $42.93. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 10.70 and a beta of 0.55.

Southside Bancshares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Thursday, February 16th were issued a $0.35 dividend. The ex-dividend date was Wednesday, February 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.00%. Southside Bancshares’s payout ratio is 42.81%.

Analyst Ratings Changes

SBSI has been the subject of a number of research reports. Stephens boosted their price target on shares of Southside Bancshares from $36.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, January 30th. StockNews.com cut shares of Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, February 21st.

Southside Bancshares Company Profile

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Southside Bancshares, Inc is a bank holding company, which engages in the provision of financial services to individuals, businesses, municipal entities, and non-profit organizations. It offers checking, saving and retirement accounts, certificate of deposits, debit, credit cards, mobile banking, loans, mortgage and equity lending, identity theft prevention, electronic banking, healthcare banking, and business loans.