20,598 Shares in Southside Bancshares, Inc. $SBSI Purchased by Sei Investments Co.

Sei Investments Co. purchased a new stake in Southside Bancshares, Inc. (NYSE:SBSI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,598 shares of the company’s stock, valued at approximately $640,000.

A number of other hedge funds have also recently bought and sold shares of SBSI. Captrust Financial Advisors increased its holdings in Southside Bancshares by 1.8% during the 4th quarter. Captrust Financial Advisors now owns 36,404 shares of the company’s stock worth $1,106,000 after purchasing an additional 640 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Southside Bancshares by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,049 shares of the company’s stock valued at $494,000 after purchasing an additional 701 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Southside Bancshares by 6.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,014 shares of the company’s stock valued at $324,000 after purchasing an additional 706 shares in the last quarter. Polaris Capital Management LLC boosted its stake in shares of Southside Bancshares by 1.2% during the 4th quarter. Polaris Capital Management LLC now owns 62,227 shares of the company’s stock valued at $1,891,000 after buying an additional 727 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Southside Bancshares by 1,083.8% during 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. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Stock Down 0.2%

Shares of NYSE:SBSI opened at $32.97 on Friday. The stock has a market capitalization of $982.84 million, a price-to-earnings ratio of 12.98 and a beta of 0.60. Southside Bancshares, Inc. has a 1-year low of $26.32 and a 1-year high of $36.20. The company’s fifty day moving average is $33.84 and its two-hundred day moving average is $32.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.74 and a current ratio of 0.74.

Southside Bancshares (NYSE:SBSI) last posted its quarterly earnings results on Friday, July 24th. The company reported $0.90 earnings per share (EPS) for the quarter, topping 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. Equities analysts anticipate that Southside Bancshares, Inc. will post 3.24 EPS for the current year.

Southside Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.5%. This is a positive change from Southside Bancshares’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, August 20th. Southside Bancshares’s dividend payout ratio (DPR) is currently 56.69%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Southside Bancshares from $37.00 to $35.00 and set a “market perform” rating for the company in a research report on Monday, August 3rd. Benchmark assumed coverage on shares of Southside Bancshares in a report on Wednesday, June 24th. They issued a “hold” rating on the stock. Weiss Ratings upgraded shares of Southside Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Piper Sandler decreased their price objective on shares of Southside Bancshares from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Finally, Zacks Research downgraded shares of Southside Bancshares from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Southside Bancshares has an average rating of “Hold” and a consensus target price of $34.75.

Southside Bancshares Profile

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.