Southside Bancshares, Inc. $SBSI Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 14.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 352,786 shares of the bank’s stock after purchasing an additional 45,598 shares during the quarter. American Century Companies Inc. owned 1.17% of Southside Bancshares worth $10,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its position in Southside Bancshares by 2,858.8% during the second quarter. Hantz Financial Services Inc. now owns 2,012 shares of the bank’s stock worth $59,000 after buying an additional 1,944 shares during the period. AlphaQuest LLC boosted its stake in shares of Southside Bancshares by 223,400.0% during the 1st quarter. AlphaQuest LLC now owns 2,235 shares of the bank’s stock worth $65,000 after acquiring an additional 2,234 shares in the last quarter. Hilltop National Bank purchased a new stake in shares of Southside Bancshares during the 2nd quarter worth approximately $67,000. Bill Few Associates Inc. acquired a new stake in shares of Southside Bancshares in the 2nd quarter worth approximately $202,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Southside Bancshares in the 2nd quarter worth approximately $215,000. Institutional investors and hedge funds own 55.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SBSI shares. Stephens reaffirmed an “equal weight” rating and set a $36.00 price objective on shares of Southside Bancshares in a report on Friday, September 19th. Keefe, Bruyette & Woods cut their price target on Southside Bancshares from $32.00 to $31.00 and set a “market perform” rating for the company in a research note on Monday, October 27th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Southside Bancshares currently has an average rating of “Hold” and a consensus price target of $33.50.

Southside Bancshares Price Performance

Southside Bancshares stock opened at $30.45 on Friday. The stock has a market capitalization of $915.51 million, a P/E ratio of 10.46 and a beta of 0.65. Southside Bancshares, Inc. has a 12-month low of $25.85 and a 12-month high of $35.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s 50-day moving average is $28.47 and its two-hundred day moving average is $29.29.

Southside Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Thursday, November 20th. Southside Bancshares’s payout ratio is presently 62.61%.

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.