Southside Bancshares, Inc. $SBSI Position Increased by Inspire Investing LLC

Inspire Investing LLC raised its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 10.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,204 shares of the bank’s stock after purchasing an additional 1,284 shares during the period. Inspire Investing LLC’s holdings in Southside Bancshares were worth $389,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hilltop National Bank acquired a new position in shares of Southside Bancshares during the second quarter valued at $67,000. Enclave Advisors LLC acquired a new position in shares of Southside Bancshares during the second quarter valued at $632,000. State of Alaska Department of Revenue boosted its holdings in shares of Southside Bancshares by 7.2% during the second quarter. State of Alaska Department of Revenue now owns 16,923 shares of the bank’s stock valued at $497,000 after acquiring an additional 1,137 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of Southside Bancshares by 3.3% during the second quarter. Wedge Capital Management L L P NC now owns 27,445 shares of the bank’s stock valued at $808,000 after acquiring an additional 889 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in shares of Southside Bancshares by 44.5% during the first quarter. Voya Investment Management LLC now owns 46,004 shares of the bank’s stock valued at $1,332,000 after acquiring an additional 14,164 shares during the period. Institutional investors own 55.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SBSI shares. Keefe, Bruyette & Woods boosted their price target on shares of Southside Bancshares from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, July 28th. Stephens reissued an “equal weight” rating and set a $36.00 price target on shares of Southside Bancshares in a report on Friday, September 19th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Southside Bancshares currently has an average rating of “Hold” and an average target price of $34.50.

Southside Bancshares Stock Performance

SBSI stock opened at $27.83 on Thursday. The company has a market capitalization of $837.22 million, a P/E ratio of 9.56 and a beta of 0.64. The company has a 50-day simple moving average of $29.67 and a 200 day simple moving average of $29.17. Southside Bancshares, Inc. has a fifty-two week low of $25.85 and a fifty-two week 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.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $1.44 annualized dividend and a yield of 5.2%. Southside Bancshares’s dividend payout ratio is presently 51.06%.

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.