Southside Bancshares, Inc. (NASDAQ:SBSI) Plans $0.36 Quarterly Dividend

Key Points

• Southside Bancshares, Inc. declared a quarterly dividend of $0.36 per share, with payment scheduled for September 4th to stockholders of record by August 21st.
• The dividend represents a 5.1% dividend yield on an annualized basis, reflecting the company's commitment to returning value to shareholders.
• As of the latest trading session, Southside Bancshares stock (NASDAQ:SBSI) is valued at $28.26, experiencing a slight decrease of 0.8%.

Southside Bancshares, Inc. (NASDAQ:SBSI - Get Free Report) announced a quarterly dividend on Thursday, August 7th, RTT News reports. Stockholders of record on Thursday, August 21st will be paid a dividend of 0.36 per share by the bank on Thursday, September 4th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, August 21st.

Southside Bancshares Stock Performance

NASDAQ:SBSI traded up $0.07 during trading hours on Monday, hitting $28.83. 4,483 shares of the company traded hands, compared to its average volume of 116,936. The stock has a market capitalization of $867.06 million, a price-to-earnings ratio of 9.91 and a beta of 0.68. 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 firm has a 50-day moving average of $29.52 and a 200 day moving average of $29.41. Southside Bancshares has a twelve month low of $25.85 and a twelve month high of $38.00.

Institutional Investors Weigh In On Southside Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its holdings in Southside Bancshares by 10.1% during the 4th quarter. Wells Fargo & Company MN now owns 51,707 shares of the bank's stock valued at $1,642,000 after buying an additional 4,731 shares in the last quarter. Invesco Ltd. lifted its stake in 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 acquiring an additional 170,685 shares during the period. Renaissance Technologies LLC lifted its stake in 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 acquiring an additional 20,800 shares during the period. Raymond James Financial Inc. bought a new position in Southside Bancshares in the fourth quarter worth $337,000. Finally, Sterling Capital Management LLC raised its holdings in Southside Bancshares by 867.4% in the fourth quarter. Sterling Capital Management LLC now owns 919 shares of the bank's stock worth $29,000 after purchasing an additional 824 shares in the last quarter. 55.70% of the stock is owned by hedge funds and other institutional investors.

Southside Bancshares Company 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.