Southside Bancshares, Inc. (NASDAQ:SBSI) to Issue $0.36 Quarterly Dividend

Southside Bancshares, Inc. (NASDAQ:SBSI) announced a quarterly dividend on Thursday, November 6th. Stockholders of record on Thursday, November 20th will be paid a dividend of 0.36 per share by the bank on Thursday, December 4th. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, November 20th.

Southside Bancshares has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 30 years.

Southside Bancshares Price Performance

Shares of SBSI traded up $0.17 on Friday, reaching $28.71. The stock had a trading volume of 89,674 shares, compared to its average volume of 121,132. Southside Bancshares has a twelve month low of $25.85 and a twelve month high of $38.00. The firm has a market capitalization of $863.04 million, a PE ratio of 9.89 and a beta of 0.68. The firm has a 50-day moving average of $28.95 and a 200 day moving average of $29.24. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18.

Institutional Investors Weigh In On Southside Bancshares

Several hedge funds have recently modified their holdings of SBSI. EverSource Wealth Advisors LLC grew its holdings in shares of Southside Bancshares by 1,083.8% during the second quarter. EverSource Wealth Advisors LLC now owns 947 shares of the bank’s stock worth $28,000 after buying an additional 867 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Southside Bancshares during the first quarter worth approximately $29,000. Pacifica Partners Inc. purchased a new stake in Southside Bancshares in the 3rd quarter worth approximately $56,000. Hantz Financial Services Inc. raised its holdings in Southside Bancshares by 2,858.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,012 shares of the bank’s stock valued at $59,000 after acquiring an additional 1,944 shares during the last quarter. Finally, AlphaQuest LLC raised its holdings in Southside Bancshares by 223,400.0% in the 1st quarter. AlphaQuest LLC now owns 2,235 shares of the bank’s stock valued at $65,000 after acquiring an additional 2,234 shares during the last quarter. 55.70% of the stock is owned by institutional investors and hedge funds.

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.