American Century Companies Inc. Boosts Holdings in Southside Bancshares, Inc. $SBSI

American Century Companies Inc. boosted its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 8.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,188 shares of the bank’s stock after purchasing an additional 24,934 shares during the quarter. American Century Companies Inc. owned about 1.02% of Southside Bancshares worth $8,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SBSI. Nuveen LLC purchased a new stake in Southside Bancshares in the 1st quarter worth approximately $2,187,000. Dimensional Fund Advisors LP lifted its stake in Southside Bancshares by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,319,916 shares of the bank’s stock worth $41,921,000 after purchasing an additional 49,565 shares in the last quarter. GAMMA Investing LLC lifted its stake in Southside Bancshares by 2,583.7% in the 1st quarter. GAMMA Investing LLC now owns 35,881 shares of the bank’s stock worth $1,039,000 after purchasing an additional 34,544 shares in the last quarter. Millennium Management LLC lifted its stake in Southside Bancshares by 60.7% in the 4th quarter. Millennium Management LLC now owns 64,003 shares of the bank’s stock worth $2,033,000 after purchasing an additional 24,172 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Southside Bancshares in the 4th quarter worth approximately $727,000. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

Southside Bancshares Stock Performance

Southside Bancshares stock opened at $31.23 on Wednesday. The firm’s fifty day moving average price is $30.03 and its 200-day moving average price is $29.30. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $939.40 million, a P/E ratio of 10.73 and a beta of 0.68. Southside Bancshares, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $38.00.

Southside Bancshares Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on SBSI. Keefe, Bruyette & Woods increased their target price on shares of Southside Bancshares from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, July 28th. Wall Street Zen upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.