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

Key Points

• Enclave Advisors LLC has acquired 21,478 shares of Southside Bancshares, valued at approximately $632,000, indicating growing institutional interest in the bank.
• Southside Bancshares has declared a quarterly dividend of $0.36 per share, resulting in an annualized dividend of $1.44 and a dividend yield of 5.0%.
• Stock analysts currently have a consensus rating of "Hold" for SBSI, with an average price target of $34.50.

Enclave Advisors LLC bought a new position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,478 shares of the bank's stock, valued at approximately $632,000. Enclave Advisors LLC owned approximately 0.07% of Southside Bancshares as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Naples Global Advisors LLC increased its position in Southside Bancshares by 3.8% during the 1st quarter. Naples Global Advisors LLC now owns 10,924 shares of the bank's stock worth $316,000 after purchasing an additional 400 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Southside Bancshares by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,049 shares of the bank's stock worth $494,000 after purchasing an additional 701 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Southside Bancshares by 3.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 27,445 shares of the bank's stock worth $808,000 after purchasing an additional 889 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Southside Bancshares during the 1st quarter worth approximately $29,000. Finally, State of Alaska Department of Revenue increased its position in Southside Bancshares by 7.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 16,923 shares of the bank's stock worth $497,000 after purchasing an additional 1,137 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company's stock.

Southside Bancshares Stock Up 0.3%

SBSI stock opened at $29.00 on Monday. Southside Bancshares, Inc. has a twelve month low of $25.85 and a twelve month high of $38.00. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $872.44 million, a P/E ratio of 9.97 and a beta of 0.70. The firm has a 50 day simple moving average of $30.18 and a 200-day simple moving average of $29.28.

Southside Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were given a dividend of $0.36 per share. 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 5.0%. Southside Bancshares's dividend payout ratio (DPR) is presently 51.06%.

Wall Street Analyst Weigh In

SBSI has been the subject of several recent research reports. Stephens reaffirmed an "equal weight" rating and issued a $36.00 price objective on shares of Southside Bancshares in a research report on Friday, September 19th. Keefe, Bruyette & Woods increased their price objective on shares of Southside Bancshares from $32.00 to $33.00 and gave the company a "market perform" rating in a research report on Monday, July 28th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $34.50.

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.

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