Bill Few Associates Inc. Invests $202,000 in Southside Bancshares, Inc. $SBSI

Bill Few Associates Inc. bought a new position in Southside Bancshares, Inc. (NASDAQ:SBSI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,870 shares of the bank’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Southside Bancshares in the 1st quarter worth approximately $29,000. AlphaQuest LLC boosted its holdings in shares of Southside Bancshares by 223,400.0% in the 1st quarter. AlphaQuest LLC now owns 2,235 shares of the bank’s stock worth $65,000 after acquiring an additional 2,234 shares in the last quarter. Hilltop National Bank acquired a new position in shares of Southside Bancshares in the 2nd quarter worth approximately $67,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Southside Bancshares in the 1st quarter worth approximately $204,000. Finally, Ackerman Capital Advisors LLC acquired a new position in shares of Southside Bancshares in the 2nd quarter worth approximately $219,000. 55.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Southside Bancshares Stock Performance

Shares of Southside Bancshares stock opened at $27.50 on Tuesday. The firm has a fifty day moving average of $29.69 and a two-hundred day moving average of $29.18. The stock has a market capitalization of $827.08 million, a price-to-earnings ratio of 9.45 and a beta of 0.64. Southside Bancshares, Inc. has a 52 week low of $25.85 and a 52 week high of $38.00. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.36 per share. The ex-dividend date was Thursday, August 21st. This represents a $1.44 annualized dividend and a dividend yield of 5.2%. Southside Bancshares’s payout ratio is presently 51.06%.

About Southside Bancshares

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.