Swiss National Bank Sells 800 Shares of Southside Bancshares, Inc. $SBSI

Swiss National Bank lessened its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,818 shares of the bank’s stock after selling 800 shares during the quarter. Swiss National Bank owned about 0.18% of Southside Bancshares worth $1,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in shares of Southside Bancshares during the first quarter worth approximately $29,000. Lazard Asset Management LLC bought a new position in Southside Bancshares in the 4th quarter worth approximately $103,000. Aquatic Capital Management LLC lifted its holdings in Southside Bancshares by 39.0% during the 4th quarter. Aquatic Capital Management LLC now owns 5,143 shares of the bank’s stock worth $163,000 after buying an additional 1,443 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Southside Bancshares in the 1st quarter valued at $204,000. Finally, New York State Teachers Retirement System boosted its position in Southside Bancshares by 15.7% in the 1st quarter. New York State Teachers Retirement System now owns 9,182 shares of the bank’s stock valued at $266,000 after buying an additional 1,244 shares during the last quarter. 55.70% of the stock is owned by institutional investors.

Southside Bancshares Stock Up 5.0%

Shares of Southside Bancshares stock opened at $31.1980 on Monday. The stock has a market cap of $938.44 million, a PE ratio of 10.72 and a beta of 0.68. Southside Bancshares, Inc. has a 12 month low of $25.85 and a 12 month high of $38.00. The business has a fifty day simple moving average of $29.90 and a 200 day simple moving average of $29.29. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.44 annualized dividend and a yield of 4.6%. Southside Bancshares’s dividend payout ratio (DPR) is presently 51.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SBSI shares. Keefe, Bruyette & Woods boosted their target price on Southside Bancshares from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Monday, July 28th. Wall Street Zen upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.00.

Southside Bancshares Company Profile

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 deposits.