Royce & Associates LP Invests $424,000 in Southside Bancshares, Inc. (NASDAQ:SBSI)

Key Points

• Royce & Associates LP acquired a new stake in Southside Bancshares, purchasing 14,641 shares valued at approximately $424,000.
• Southside Bancshares recently announced a quarterly dividend of $0.36 per share, resulting in an annualized dividend yield of 4.67%.
• Wall Street analysts forecast growth for Southside Bancshares, with Keefe, Bruyette & Woods raising their price target from $32.00 to $33.00, while also rating it a "market perform."

Royce & Associates LP purchased a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,641 shares of the bank's stock, valued at approximately $424,000.

A number of other institutional investors have also recently bought and sold shares of SBSI. Dimensional Fund Advisors LP lifted its position in shares of Southside Bancshares by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,319,916 shares of the bank's stock worth $41,921,000 after purchasing an additional 49,565 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Southside Bancshares by 4.0% in the fourth quarter. Renaissance Technologies LLC now owns 538,985 shares of the bank's stock worth $17,118,000 after purchasing an additional 20,800 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Southside Bancshares by 32.9% in the fourth quarter. JPMorgan Chase & Co. now owns 511,741 shares of the bank's stock worth $16,253,000 after purchasing an additional 126,587 shares in the last quarter. Northern Trust Corp lifted its position in shares of Southside Bancshares by 5.8% in the fourth quarter. Northern Trust Corp now owns 318,699 shares of the bank's stock worth $10,122,000 after purchasing an additional 17,564 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Southside Bancshares by 139.9% in the fourth quarter. Invesco Ltd. now owns 292,680 shares of the bank's stock worth $9,296,000 after purchasing an additional 170,685 shares in the last quarter. Institutional investors own 55.70% of the company's stock.

Southside Bancshares Stock Down 2.6%

Shares of NASDAQ:SBSI traded down $0.78 during midday trading on Friday, hitting $28.66. The stock had a trading volume of 161,174 shares, compared to its average volume of 118,565. 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 50-day simple moving average is $29.49 and its 200-day simple moving average is $29.56. The company has a market cap of $862.09 million, a P/E ratio of 9.85 and a beta of 0.67.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last released its earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. Southside Bancshares had a net margin of 19.40% and a return on equity of 11.10%. The business had revenue of $100.29 million during the quarter, compared to analysts' expectations of $67.37 million. During the same period last year, the business earned $0.71 earnings per share. On average, sell-side analysts forecast that Southside Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Southside Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.44 annualized dividend and a yield of 5.0%. Southside Bancshares's dividend payout ratio (DPR) is currently 51.06%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SBSI shares. Keefe, Bruyette & Woods boosted their price objective on shares of Southside Bancshares from $32.00 to $33.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. Wall Street Zen raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, May 9th.

Southside Bancshares Profile

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.