Nisa Investment Advisors LLC Invests $32,000 in Southside Bancshares, Inc. (NASDAQ:SBSI)

Nisa Investment Advisors LLC purchased a new position in shares of Southside Bancshares, Inc. (NASDAQ:SBSIGet Rating) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 780 shares of the bank’s stock, valued at approximately $32,000.

Other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in Southside Bancshares during the fourth quarter valued at approximately $28,000. Gibson Wealth Advisors LLC acquired a new position in shares of Southside Bancshares in the fourth quarter valued at approximately $45,000. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in shares of Southside Bancshares in the fourth quarter valued at approximately $95,000. First Dallas Securities Inc. acquired a new position in shares of Southside Bancshares in the fourth quarter valued at approximately $209,000. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of Southside Bancshares in the fourth quarter valued at approximately $230,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

Southside Bancshares Stock Performance

Shares of SBSI stock opened at $39.94 on Monday. The company’s fifty day simple moving average is $38.17 and its 200-day simple moving average is $39.95. The company has a quick ratio of 0.65, a current ratio of 0.66 and a debt-to-equity ratio of 0.51. The firm has a market cap of $1.28 billion, a PE ratio of 11.96 and a beta of 0.56. Southside Bancshares, Inc. has a 12 month low of $35.01 and a 12 month high of $45.36.

Southside Bancshares (NASDAQ:SBSIGet Rating) last announced its quarterly earnings data on Monday, July 25th. The bank reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. Southside Bancshares had a net margin of 40.84% and a return on equity of 13.17%. During the same period last year, the firm earned $0.65 EPS. Equities research analysts expect that Southside Bancshares, Inc. will post 3.22 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Thursday, May 19th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.41%. The ex-dividend date was Wednesday, May 18th. Southside Bancshares’s dividend payout ratio (DPR) is currently 40.72%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SBSI shares. Stephens upped their price target on shares of Southside Bancshares to $43.00 in a report on Tuesday, July 26th. Piper Sandler reduced their price target on shares of Southside Bancshares to $41.00 in a report on Monday, July 4th.

About Southside Bancshares

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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 deposit.

Further Reading

Institutional Ownership by Quarter for Southside Bancshares (NASDAQ:SBSI)

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