Southside Bancshares, Inc. $SBSI Stake Boosted by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its holdings in Southside Bancshares, Inc. by 8.8%, owning approximately 307,188 shares valued at $8.9 million as of the latest SEC filing.
• Southside Bancshares announced a quarterly dividend of $0.36 per share, reflecting a 4.6% dividend yield, with a payout ratio of 51.06%.
• Wall Street analysts maintain a consensus rating of "Hold" on Southside Bancshares, with an average price target of $35.00 after recent upgrades from several firms.

American Century Companies Inc. raised its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 307,188 shares of the bank's stock after acquiring an additional 24,934 shares during the quarter. American Century Companies Inc. owned approximately 1.02% of Southside Bancshares worth $8,896,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board lifted its holdings in Southside Bancshares by 26.7% during the 1st quarter. Public Sector Pension Investment Board now owns 90,308 shares of the bank's stock worth $2,615,000 after buying an additional 19,009 shares during the last quarter. Nuveen LLC bought a new stake in Southside Bancshares in the first quarter valued at $2,187,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Southside Bancshares by 14.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,126 shares of the bank's stock valued at $1,799,000 after buying an additional 7,644 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Southside Bancshares in the first quarter valued at $29,000. Finally, Royce & Associates LP acquired a new position in Southside Bancshares during the 1st quarter valued at about $424,000. 55.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBSI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted 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 note on Monday, July 28th. Wall Street Zen upgraded shares of Southside Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Southside Bancshares has a consensus rating of "Hold" and a consensus target price of $35.00.

Southside Bancshares Trading Down 0.3%

SBSI traded down $0.08 during trading on Friday, reaching $31.28. The company had a trading volume of 80,844 shares, compared to its average volume of 116,593. The firm's 50-day simple moving average is $30.23 and its 200 day simple moving average is $29.29. The company has a market cap of $940.81 million, a price-to-earnings ratio of 10.75 and a beta of 0.68. Southside Bancshares, Inc. has a 12-month low of $25.85 and a 12-month 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 business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.44 dividend on an annualized basis and a yield of 4.6%. Southside Bancshares's dividend payout ratio (DPR) is currently 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.