Dynamic Technology Lab Private Ltd Makes New 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 acquired a new stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Naples Global Advisors LLC increased its position in shares of 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. grew its stake in Southside Bancshares by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,348 shares of the bank's stock worth $519,000 after buying an additional 571 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Southside Bancshares during the first quarter worth approximately $29,000. New York State Teachers Retirement System raised its stake 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 valued at $266,000 after acquiring an additional 1,244 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Southside Bancshares by 21.3% in the first quarter. Allianz Asset Management GmbH now owns 9,700 shares of the bank's stock valued at $281,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors own 55.70% of the company's stock.

Analysts Set New Price Targets

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

Southside Bancshares Stock Performance

Shares of NASDAQ SBSI opened at $30.45 on Thursday. Southside Bancshares, Inc. has a 1-year low of $25.85 and a 1-year high of $38.00. The company has a 50-day moving average of $30.44 and a two-hundred day moving average of $29.29. The company has a market cap of $915.94 million, a PE ratio of 10.46 and a beta of 0.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $1.44 annualized dividend and a yield of 4.7%. Southside Bancshares's dividend payout ratio 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.

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