Dynamic Technology Lab Private Ltd Makes New $537,000 Investment in Southside Bancshares, Inc. $SBSI

Key Points

• Dynamic Technology Lab Private Ltd has acquired 18,533 shares of Southside Bancshares, Inc., valued at approximately $537,000, increasing its ownership to 0.06% as reported in its recent SEC filing.
• Multiple large investors, including Naples Global Advisors LLC and Allianz Asset Management GmbH, have also increased their stakes in Southside Bancshares, indicating strong institutional interest.
• Analysts raised the price target for Southside Bancshares from $32.00 to $33.00, with a consensus target price of $35.00 reflecting a "Hold" rating.

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,533 shares of the bank's stock, valued at approximately $537,000. Dynamic Technology Lab Private Ltd owned 0.06% of Southside Bancshares as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Southside Bancshares by 2,583.7% in 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. increased its holdings in shares of Southside Bancshares by 2.7% in 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. Deutsche Bank AG increased its holdings in shares of Southside Bancshares by 53.9% in the fourth quarter. Deutsche Bank AG now owns 27,043 shares of the bank's stock worth $859,000 after purchasing an additional 9,466 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Southside Bancshares by 15.7% in 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 stake in shares of Southside Bancshares in the first quarter worth about $424,000. 55.70% of the stock is owned by institutional investors.

Southside Bancshares Trading Down 1.1%

SBSI traded down $0.34 on Tuesday, hitting $29.88. The company had a trading volume of 121,378 shares, compared to its average volume of 115,848. The company has a market cap of $898.64 million, a PE ratio of 10.27 and a beta of 0.70. Southside Bancshares, Inc. has a 12-month low of $25.85 and a 12-month 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. The business's fifty day simple moving average is $30.39 and its 200 day simple moving average is $29.28.

Southside Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $1.44 annualized dividend and a yield of 4.8%. Southside Bancshares's dividend payout ratio (DPR) is presently 51.06%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their target price on Southside Bancshares from $32.00 to $33.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $35.00.

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.