State of Alaska Department of Revenue Acquires 1,137 Shares of Southside Bancshares, Inc. $SBSI

State of Alaska Department of Revenue increased its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,923 shares of the bank’s stock after acquiring an additional 1,137 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Southside Bancshares worth $497,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Southside Bancshares by 2,583.7% in the 1st quarter. GAMMA Investing LLC now owns 35,881 shares of the bank’s stock valued at $1,039,000 after buying an additional 34,544 shares during the period. Principal Financial Group Inc. increased its holdings in Southside Bancshares by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 141,885 shares of the bank’s stock valued at $4,109,000 after buying an additional 3,726 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Southside Bancshares in the 1st quarter valued at about $537,000. New York State Teachers Retirement System grew its holdings in shares of Southside Bancshares by 15.7% during the 1st quarter. New York State Teachers Retirement System now owns 9,182 shares of the bank’s stock valued at $266,000 after purchasing an additional 1,244 shares during the last quarter. Finally, Royce & Associates LP bought a new stake in shares of Southside Bancshares during the 1st quarter valued at approximately $424,000. 55.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SBSI shares. Stephens reaffirmed an “equal weight” rating and set a $36.00 price target on shares of Southside Bancshares in a report on Friday, September 19th. Keefe, Bruyette & Woods lifted 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 report on Monday, July 28th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.50.

Southside Bancshares Stock Performance

NASDAQ:SBSI opened at $28.24 on Thursday. The company has a fifty day moving average of $29.78 and a 200-day moving average of $29.22. The firm has a market capitalization of $849.31 million, a P/E ratio of 9.70 and a beta of 0.64. 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, Inc. has a twelve month low of $25.85 and a twelve month high of $38.00.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Thursday, August 21st. Southside Bancshares’s payout ratio is 51.06%.

About Southside Bancshares

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.