Southside Bancshares, Inc. (SBSI) to Distribute Quarterly Dividend of $0.37 on December 9th

Southside Bancshares, Inc. (NYSE:SBSI) announced a quarterly dividend on Thursday, November 5th. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.37 per share on Wednesday, December 9th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, November 25th.

Southside Bancshares Price Performance

SBSI opened at $34.05 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 10.71 and a beta of 0.57. The stock’s 50 day simple moving average is $31.67 and its 200 day simple moving average is $32.46. Southside Bancshares has a 1 year low of $28.04 and a 1 year high of $36.35.

Southside Bancshares (NYSE:SBSI) last announced its earnings results on Thursday, October 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.14. The business had revenue of $76.14 million for the quarter, compared to analysts’ expectations of $72.67 million. Southside Bancshares had a return on equity of 11.58% and a net margin of 21.48%. As a group, analysts predict that Southside Bancshares will post 3.45 earnings per share for the current year.

Insider Activity

In other Southside Bancshares news, CAO April Pinkley sold 6,724 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $36.00, for a total transaction of $242,064.00. Following the sale, the chief accounting officer owned 4,393 shares of the company’s stock, valued at $158,148. The trade was a 60.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Southside Bancshares

A number of large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in Southside Bancshares by 3.0% in the third quarter. Russell Investments Group Ltd. now owns 16,219 shares of the company’s stock worth $488,000 after acquiring an additional 479 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Southside Bancshares by 15.2% in the 3rd quarter. Fifth Third Bancorp now owns 17,440 shares of the company’s stock worth $525,000 after buying an additional 2,300 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of Southside Bancshares in the third quarter valued at about $220,000. Pinnacle Associates Ltd. raised its position in Southside Bancshares by 4.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 43,398 shares of the company’s stock valued at $1,305,000 after purchasing an additional 1,824 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Southside Bancshares by 14.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,723 shares of the company’s stock valued at $82,000 after purchasing an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 55.70% of the company’s stock.

About Southside Bancshares

Southside Bancshares, Inc is a Texas-based financial holding company and the parent company of Southside Bank. Founded in 1960 and headquartered in Tyler, Texas, the company provides banking and financial services to individuals, businesses, and institutions.

Southside Bank offers a range of deposit products, including checking, savings, money market, and certificate of deposit accounts. Its lending activities include residential and commercial real estate loans, construction financing, commercial and industrial loans, consumer loans, and other forms of business credit.

The bank also provides treasury management, online and mobile banking, wealth management, trust and fiduciary services, and other financial solutions.