Quantinno Capital Management LP Has $1.18 Million Stock Holdings in Southside Bancshares, Inc. $SBSI

Quantinno Capital Management LP boosted its stake in shares of Southside Bancshares, Inc. (NYSE:SBSI) by 75.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,875 shares of the company’s stock after purchasing an additional 16,306 shares during the quarter. Quantinno Capital Management LP’s holdings in Southside Bancshares were worth $1,178,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Southside Bancshares by 1,083.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 947 shares of the company’s stock worth $28,000 after buying an additional 867 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Southside Bancshares in the 4th quarter valued at about $45,000. CIBC Private Wealth Group LLC bought a new position in Southside Bancshares in the 3rd quarter valued at about $45,000. Russell Investments Group Ltd. raised its holdings in Southside Bancshares by 927.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,826 shares of the company’s stock valued at $80,000 after acquiring an additional 2,551 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in Southside Bancshares by 4,703.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,738 shares of the company’s stock worth $83,000 after acquiring an additional 2,681 shares during the last quarter. 55.70% of the stock is owned by institutional investors.

Southside Bancshares Price Performance

Shares of Southside Bancshares stock opened at $32.97 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $982.84 million, a price-to-earnings ratio of 12.98 and a beta of 0.60. Southside Bancshares, Inc. has a twelve month low of $26.32 and a twelve month high of $36.20. The company has a 50-day simple moving average of $33.84 and a two-hundred day simple moving average of $32.78.

Southside Bancshares (NYSE:SBSI) last announced its earnings results on Friday, July 24th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. Southside Bancshares had a net margin of 16.70% and a return on equity of 11.16%. The firm had revenue of $71.34 million for the quarter, compared to analyst estimates of $75.00 million. Analysts forecast that Southside Bancshares, Inc. will post 3.24 EPS for the current year.

Southside Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.5%. This is an increase from Southside Bancshares’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, August 20th. Southside Bancshares’s dividend payout ratio is presently 56.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on Southside Bancshares from $37.00 to $35.00 and set a “market perform” rating for the company in a report on Monday, August 3rd. Weiss Ratings upgraded Southside Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Benchmark started coverage on Southside Bancshares in a report on Wednesday, June 24th. They set a “hold” rating for the company. Piper Sandler reduced their price target on Southside Bancshares from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Finally, Zacks Research lowered Southside Bancshares from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.75.

Southside Bancshares 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.