Ensign Peak Advisors Inc Sells 2,450 Shares of Southside Bancshares, Inc. $SBSI

Ensign Peak Advisors Inc lowered its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 11.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,464 shares of the bank’s stock after selling 2,450 shares during the period. Ensign Peak Advisors Inc’s holdings in Southside Bancshares were worth $573,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SBSI. Allianz Asset Management GmbH boosted its stake in shares of Southside Bancshares by 21.3% in the first quarter. Allianz Asset Management GmbH now owns 9,700 shares of the bank’s stock valued at $281,000 after buying an additional 1,700 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Southside Bancshares in the first quarter worth $204,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Southside Bancshares by 14.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,126 shares of the bank’s stock valued at $1,799,000 after purchasing an additional 7,644 shares in the last quarter. Nuveen LLC bought a new stake in Southside Bancshares during the first quarter worth about $2,187,000. Finally, Public Sector Pension Investment Board lifted its position in Southside Bancshares by 26.7% during the first quarter. Public Sector Pension Investment Board now owns 90,308 shares of the bank’s stock worth $2,615,000 after purchasing an additional 19,009 shares during the period. 55.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

SBSI has been the subject of several analyst reports. Stephens restated an “equal weight” rating and issued a $36.00 target price on shares of Southside Bancshares in a research report on Friday, September 19th. Keefe, Bruyette & Woods cut their target price on Southside Bancshares from $32.00 to $31.00 and set a “market perform” rating for the company in a research note on Monday, October 27th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Southside Bancshares Stock Down 0.3%

Shares of NASDAQ:SBSI opened at $29.33 on Monday. Southside Bancshares, Inc. has a 52-week low of $25.85 and a 52-week high of $35.99. The company has a market capitalization of $881.84 million, a PE ratio of 10.08 and a beta of 0.68. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. The company has a fifty day moving average of $28.38 and a 200-day moving average of $29.27.

Southside Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be given a $0.36 dividend. The ex-dividend date is Thursday, November 20th. This represents a $1.44 annualized dividend and a yield of 4.9%. Southside Bancshares’s dividend payout ratio (DPR) is currently 62.61%.

About Southside Bancshares

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.