21,478 Shares in Southside Bancshares, Inc. $SBSI Bought by Enclave Advisors LLC

Enclave Advisors LLC acquired a new position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,478 shares of the bank’s stock, valued at approximately $632,000.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Southside Bancshares by 2,583.7% during the first quarter. GAMMA Investing LLC now owns 35,881 shares of the bank’s stock worth $1,039,000 after purchasing an additional 34,544 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Southside Bancshares by 2.7% during the first quarter. Principal Financial Group Inc. now owns 141,885 shares of the bank’s stock worth $4,109,000 after purchasing an additional 3,726 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Southside Bancshares during the first quarter worth $537,000. New York State Teachers Retirement System lifted its stake in Southside Bancshares by 15.7% during the first quarter. New York State Teachers Retirement System now owns 9,182 shares of the bank’s stock worth $266,000 after purchasing an additional 1,244 shares during the last quarter. Finally, Royce & Associates LP bought a new position in Southside Bancshares during the first quarter worth $424,000. 55.70% of the stock is currently owned by institutional investors.

Southside Bancshares Stock Performance

SBSI stock opened at $29.00 on Monday. Southside Bancshares, Inc. has a 1 year low of $25.85 and a 1 year high of $38.00. The stock’s fifty day moving average is $30.18 and its two-hundred day moving average is $29.28. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $872.44 million, a price-to-earnings ratio of 9.97 and a beta of 0.70.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Thursday, August 21st. Southside Bancshares’s payout ratio is currently 51.06%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SBSI shares. Keefe, Bruyette & Woods raised their price objective on Southside Bancshares from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, July 28th. Stephens restated an “equal weight” rating and set a $36.00 price objective on shares of Southside Bancshares in a research note on Friday, September 19th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $34.50.

Southside Bancshares 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 deposits.