Southside Bancshares, Inc. (NASDAQ:SBSI) to Issue Quarterly Dividend of $0.34

Southside Bancshares, Inc. (NASDAQ:SBSIGet Rating) announced a quarterly dividend on Thursday, August 4th, Zacks reports. Investors of record on Thursday, August 18th will be given a dividend of 0.34 per share by the bank on Thursday, September 1st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, August 17th.

Southside Bancshares has a dividend payout ratio of 40.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Southside Bancshares to earn $3.37 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 40.4%.

Southside Bancshares Stock Up 1.2 %

Shares of SBSI stock traded up $0.47 during trading hours on Friday, reaching $39.89. 52,427 shares of the stock were exchanged, compared to its average volume of 67,104. The business’s fifty day moving average is $38.23 and its two-hundred day moving average is $39.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.64 and a quick ratio of 0.66. Southside Bancshares has a 12-month low of $35.44 and a 12-month high of $45.36. The firm has a market capitalization of $1.28 billion, a P/E ratio of 11.94 and a beta of 0.57.

Southside Bancshares (NASDAQ:SBSIGet Rating) last released its earnings results on Monday, July 25th. The bank reported $0.79 earnings per share 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 quarter last year, the business earned $0.65 EPS. As a group, research analysts expect that Southside Bancshares will post 3.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SBSI has been the topic of several recent analyst reports. Stephens increased their price target on shares of Southside Bancshares to $43.00 in a research note on Tuesday, July 26th. Piper Sandler dropped their price target on shares of Southside Bancshares to $41.00 in a research note on Monday, July 4th.

Insider Buying and Selling at Southside Bancshares

In other Southside Bancshares news, insider Cindy Blackstone sold 2,005 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $39.44, for a total value of $79,077.20. Following the transaction, the insider now directly owns 2,021 shares in the company, valued at $79,708.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Southside Bancshares

Large investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Southside Bancshares by 1.9% in the first quarter. BlackRock Inc. now owns 4,758,431 shares of the bank’s stock valued at $194,286,000 after acquiring an additional 88,082 shares during the period. State Street Corp boosted its holdings in shares of Southside Bancshares by 4.1% in the first quarter. State Street Corp now owns 1,279,542 shares of the bank’s stock valued at $52,244,000 after acquiring an additional 50,056 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Southside Bancshares by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,262,771 shares of the bank’s stock valued at $51,559,000 after acquiring an additional 12,168 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Southside Bancshares by 2.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 295,277 shares of the bank’s stock valued at $12,057,000 after acquiring an additional 7,734 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Southside Bancshares by 14.2% in the first quarter. Goldman Sachs Group Inc. now owns 86,621 shares of the bank’s stock valued at $3,537,000 after acquiring an additional 10,781 shares during the period. 51.25% of the stock is owned by institutional investors and hedge funds.

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.

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Dividend History for Southside Bancshares (NASDAQ:SBSI)

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