Swiss National Bank Boosts Stake in Southside Bancshares, Inc. (NASDAQ:SBSI)

Swiss National Bank lifted its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI – Get Rating) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,618 shares of the bank’s stock after buying an additional 1,100 shares during the period. Swiss National Bank’s holdings in Southside Bancshares were worth $2,650,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SBSI. Point72 Hong Kong Ltd raised its stake in Southside Bancshares by 387.6% during the 3rd quarter. Point72 Hong Kong Ltd now owns 1,921 shares of the bank’s stock valued at $68,000 after buying an additional 1,527 shares during the last quarter. Quantbot Technologies LP purchased a new position in Southside Bancshares during the second quarter valued at $105,000. Allspring Global Investments Holdings LLC grew its holdings in Southside Bancshares by 17.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,786 shares of the bank’s stock valued at $169,000 after purchasing an additional 709 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Southside Bancshares by 51.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,164 shares of the bank’s stock worth $186,000 after buying an additional 1,764 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in shares of Southside Bancshares by 12.5% in the third quarter. Mutual of America Capital Management LLC now owns 6,068 shares of the bank’s stock worth $215,000 after buying an additional 673 shares during the period. Hedge funds and other institutional investors own 53.13% of the company’s stock.

Wall Street Analysts Forecast Growth

SBSI has been the topic of a number of recent analyst reports. Stephens raised their target price on shares of Southside Bancshares from $36.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, January 30th. StockNews.com began coverage on Southside Bancshares in a research report on Thursday, May 18th. They set a “sell” rating for the company. Finally, Piper Sandler cut their price objective on shares of Southside Bancshares from $36.00 to $33.00 in a report on Wednesday, April 26th.

Southside Bancshares Stock Up 1.1 %

NASDAQ SBSI opened at $28.38 on Wednesday. The company has a market capitalization of $877.51 million, a P/E ratio of 8.52 and a beta of 0.53. The stock has a 50 day moving average price of $31.28 and a 200-day moving average price of $34.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.72 and a current ratio of 0.72. Southside Bancshares, Inc. has a one year low of $26.24 and a one year high of $42.01.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $1.40 annualized dividend and a yield of 4.93%. Southside Bancshares’s payout ratio is currently 42.04%.

Southside Bancshares Company Profile

(Get Rating)

Southside Bancshares, Inc is a bank holding company, which engages in the provision of financial services to individuals, businesses, municipal entities, and non-profit organizations. It offers checking, saving and retirement accounts, certificate of deposits, debit, credit cards, mobile banking, loans, mortgage and equity lending, identity theft prevention, electronic banking, healthcare banking, and business loans.