Ackerman Capital Advisors LLC Takes Position in Southside Bancshares, Inc. $SBSI

Ackerman Capital Advisors LLC bought a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 7,438 shares of the bank’s stock, valued at approximately $219,000.

Several other large investors also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in Southside Bancshares in the 1st quarter valued at about $29,000. AlphaQuest LLC lifted its position in shares of Southside Bancshares by 223,400.0% during the 1st quarter. AlphaQuest LLC now owns 2,235 shares of the bank’s stock worth $65,000 after buying an additional 2,234 shares in the last quarter. Hilltop National Bank bought a new position in shares of Southside Bancshares during the 2nd quarter worth approximately $67,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Southside Bancshares during the 1st quarter worth approximately $204,000. Finally, Ieq Capital LLC bought a new position in shares of Southside Bancshares during the 1st quarter worth approximately $234,000. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBSI has been the topic of a number of research reports. Keefe, Bruyette & Woods lifted their price target on shares of Southside Bancshares from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Stephens reiterated an “equal weight” rating and issued a $36.00 target price on shares of Southside Bancshares in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Southside Bancshares presently has an average rating of “Hold” and a consensus price target of $34.50.

Southside Bancshares Trading Down 3.1%

NASDAQ:SBSI opened at $27.15 on Friday. The stock has a market cap of $816.67 million, a price-to-earnings ratio of 9.33 and a beta of 0.64. The company’s 50 day moving average price is $29.72 and its 200-day moving average price is $29.19. Southside Bancshares, Inc. has a 52 week low of $25.85 and a 52 week high of $38.00. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.3%. Southside Bancshares’s dividend payout ratio (DPR) is 51.06%.

Southside Bancshares Company 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.