Southside Bancshares, Inc. $SBSI Position Boosted by Bayview Asset Management LLC

Bayview Asset Management LLC raised its position in Southside Bancshares, Inc. (NYSE:SBSI) by 48.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,457 shares of the company’s stock after purchasing an additional 27,957 shares during the quarter. Southside Bancshares accounts for approximately 0.6% of Bayview Asset Management LLC’s portfolio, making the stock its 5th largest holding. Bayview Asset Management LLC owned about 0.28% of Southside Bancshares worth $2,597,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Southside Bancshares by 26.6% in the 4th quarter. GAMMA Investing LLC now owns 1,809 shares of the company’s stock worth $55,000 after purchasing an additional 380 shares during the period. Lion Street Advisors LLC raised its holdings in shares of Southside Bancshares by 4.3% in the 3rd quarter. Lion Street Advisors LLC now owns 10,276 shares of the company’s stock worth $290,000 after purchasing an additional 424 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Southside Bancshares by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,049 shares of the company’s stock worth $494,000 after purchasing an additional 701 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Southside Bancshares by 6.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,014 shares of the company’s stock worth $324,000 after purchasing an additional 706 shares during the period. Finally, Polaris Capital Management LLC raised its holdings in shares of Southside Bancshares by 1.2% in the 4th quarter. Polaris Capital Management LLC now owns 62,227 shares of the company’s stock worth $1,891,000 after purchasing an additional 727 shares during the period. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

Southside Bancshares Price Performance

SBSI stock opened at $34.36 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.74 and a current ratio of 0.74. Southside Bancshares, Inc. has a 1 year low of $26.32 and a 1 year high of $34.53. The firm has a market cap of $1.02 billion, a P/E ratio of 14.56 and a beta of 0.58. The stock has a 50-day simple moving average of $32.83 and a 200-day simple moving average of $31.95.

Southside Bancshares (NYSE:SBSI) last posted its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Southside Bancshares had a return on equity of 10.81% and a net margin of 15.85%.The business had revenue of $70.29 million during the quarter, compared to analyst estimates of $70.92 million. On average, equities analysts predict that Southside Bancshares, Inc. will post 3.43 earnings per share for the current fiscal year.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $0.36 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.2%. Southside Bancshares’s dividend payout ratio (DPR) is 61.02%.

Analyst Ratings Changes

A number of research firms have recently commented on SBSI. Weiss Ratings upgraded Southside Bancshares from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Piper Sandler began coverage on Southside Bancshares in a research note on Wednesday, April 15th. They issued a “neutral” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.00.

Southside Bancshares Company Profile

Southside Bancshares Inc is a bank holding company headquartered in Tyler, Texas. Through its subsidiary, Southside Bank, it provides a broad array of commercial and consumer banking services to individuals and businesses. The company’s offerings include deposit products, loan facilities and treasury management solutions tailored to the needs of its clientele. Established in 1974, Southside Bancshares has grown its footprint across East and North Texas while maintaining a community banking focus.

In the commercial banking segment, the company extends financing for real estate development, construction projects, equipment purchases and working capital needs.