MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income cut its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI – Get Rating) by 23.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,639 shares of the bank’s stock after selling 57,400 shares during the quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s holdings in Southside Bancshares were worth $7,865,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new stake in shares of Southside Bancshares in the fourth quarter worth $28,000. Nisa Investment Advisors LLC acquired a new stake in shares of Southside Bancshares in the first quarter worth $32,000. Gibson Wealth Advisors LLC acquired a new stake in shares of Southside Bancshares in the fourth quarter worth $45,000. First Dallas Securities Inc. acquired a new stake in shares of Southside Bancshares in the fourth quarter worth $209,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Southside Bancshares in the fourth quarter worth $230,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.
Southside Bancshares Stock Performance
Southside Bancshares stock traded up $0.47 on Friday, hitting $39.89. The company’s stock had a trading volume of 52,427 shares, compared to its average volume of 67,104. The firm has a market cap of $1.28 billion, a P/E ratio of 11.94 and a beta of 0.57. The company has a quick ratio of 0.66, a current ratio of 0.64 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $38.23 and a 200-day moving average price of $39.85. Southside Bancshares, Inc. has a one year low of $35.44 and a one year high of $45.36.
Southside Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, August 17th. Southside Bancshares’s dividend payout ratio is currently 40.72%.
Insiders Place Their Bets
In other Southside Bancshares news, insider Cindy Blackstone sold 2,005 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $39.44, for a total transaction of $79,077.20. Following the sale, the insider now owns 2,021 shares of the company’s stock, valued at approximately $79,708.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Southside Bancshares to $41.00 in a research note on Monday, July 4th. Stephens upped their target price on shares of Southside Bancshares to $43.00 in a research note on Tuesday, July 26th.
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 deposit.
- Get a free copy of the StockNews.com research report on Southside Bancshares (SBSI)
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