Southside Bancshares, Inc. $SBSI Holdings Increased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 37.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,388 shares of the bank’s stock after acquiring an additional 25,409 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.31% of Southside Bancshares worth $2,610,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Southside Bancshares by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,049 shares of the bank’s stock valued at $494,000 after purchasing an additional 701 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Southside Bancshares by 5.4% in the 1st quarter. Empowered Funds LLC now owns 82,211 shares of the bank’s stock worth $2,381,000 after purchasing an additional 4,198 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Southside Bancshares by 10.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,377 shares of the bank’s stock worth $2,038,000 after purchasing an additional 6,459 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Southside Bancshares in the 1st quarter worth approximately $1,520,000. Finally, AlphaQuest LLC boosted its holdings in Southside Bancshares by 452.8% during the second quarter. AlphaQuest LLC now owns 12,354 shares of the bank’s stock worth $364,000 after buying an additional 10,119 shares in the last quarter. Institutional investors own 55.70% of the company’s stock.

Insider Buying and Selling at Southside Bancshares

In other news, Director Herbert C. Buie purchased 1,807 shares of Southside Bancshares stock in a transaction dated Thursday, December 4th. The stock was acquired at an average cost of $30.68 per share, for a total transaction of $55,438.76. Following the acquisition, the director directly owned 389,288 shares in the company, valued at $11,943,355.84. This represents a 0.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.00% of the company’s stock.

Southside Bancshares Stock Performance

Shares of Southside Bancshares stock opened at $32.89 on Friday. The stock has a market cap of $988.78 million, a PE ratio of 11.30 and a beta of 0.64. Southside Bancshares, Inc. has a 12 month low of $25.85 and a 12 month high of $34.37. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $32.18 and a 200-day simple moving average of $30.35.

Southside Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 19th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.4%. Southside Bancshares’s dividend payout ratio (DPR) is 62.88%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Hovde Group increased their price objective on Southside Bancshares from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods increased their price target on Southside Bancshares from $31.00 to $35.00 and gave the company a “market perform” rating in a research report on Monday, February 2nd. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.00.

Southside Bancshares Company Profile

Southside Bancshares, Inc is a bank holding company headquartered in Tyler, Texas, and operates through its principal subsidiary, Southside Bank. The company provides a full suite of commercial and retail banking services, including deposit accounts, commercial and consumer loans, mortgage lending, and digital banking solutions designed to meet the needs of individuals, small businesses, and mid-market companies.

Southside Bank’s commercial banking division offers lending and treasury management services to support business growth and operational efficiency.