Southside Bancshares, Inc. (SBSI) to Distribute Quarterly Dividend of $0.37 on September 3rd

Southside Bancshares, Inc. (NYSE:SBSI) announced a quarterly dividend on Thursday, August 6th. Shareholders of record on Thursday, August 20th will be given a dividend of 0.37 per share on Thursday, September 3rd. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date is Thursday, August 20th. This is a 2.8% increase from Southside Bancshares’s previous quarterly dividend of $0.36.

Southside Bancshares has raised its dividend 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 stock opened at $32.49 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.71. Southside Bancshares has a twelve month low of $26.32 and a twelve month high of $36.20. The company has a market cap of $968.44 million, a P/E ratio of 12.79 and a beta of 0.60. The business has a fifty day simple moving average of $33.84 and a 200 day simple moving average of $32.78.

Southside Bancshares (NYSE:SBSI) last posted its quarterly earnings results on Friday, July 24th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. Southside Bancshares had a net margin of 16.70% and a return on equity of 11.16%. The company had revenue of $71.34 million for the quarter, compared to the consensus estimate of $75.00 million. On average, sell-side analysts forecast that Southside Bancshares will post 3.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Southside Bancshares

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in Southside Bancshares by 1,083.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 947 shares of the company’s stock valued at $28,000 after buying an additional 867 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Southside Bancshares in the 4th quarter valued at about $45,000. CIBC Private Wealth Group LLC bought a new position in shares of Southside Bancshares during the 3rd quarter worth approximately $45,000. Russell Investments Group Ltd. lifted its position in shares of Southside Bancshares by 927.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,826 shares of the company’s stock worth $80,000 after buying an additional 2,551 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Southside Bancshares by 4,703.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,738 shares of the company’s stock worth $83,000 after buying an additional 2,681 shares during the last quarter. 55.70% of the stock is owned by institutional investors and hedge funds.

About Southside Bancshares

Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company’s offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.

In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.