Bill Few Associates Inc. Buys Shares of 6,870 Southside Bancshares, Inc. $SBSI

Bill Few Associates Inc. acquired a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 6,870 shares of the bank’s stock, valued at approximately $202,000.

A number of other large investors have also made changes to their positions in SBSI. GAMMA Investing LLC increased its position in shares of Southside Bancshares by 2,583.7% in the 1st quarter. GAMMA Investing LLC now owns 35,881 shares of the bank’s stock valued at $1,039,000 after buying an additional 34,544 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of Southside Bancshares by 15.7% in the 1st quarter. New York State Teachers Retirement System now owns 9,182 shares of the bank’s stock valued at $266,000 after buying an additional 1,244 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Southside Bancshares by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 141,885 shares of the bank’s stock valued at $4,109,000 after buying an additional 3,726 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Southside Bancshares in the 1st quarter valued at $355,000. Finally, Allianz Asset Management GmbH increased its position in shares of Southside Bancshares by 21.3% in the 1st 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 in the last quarter. Institutional investors own 55.70% of the company’s stock.

Southside Bancshares Price Performance

SBSI stock opened at $27.50 on Tuesday. The stock has a 50-day moving average price of $29.69 and a two-hundred day moving average price of $29.18. The stock has a market cap of $827.08 million, a PE ratio of 9.45 and a beta of 0.64. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. Southside Bancshares, Inc. has a 1 year low of $25.85 and a 1 year high of $38.00.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Thursday, August 21st. Southside Bancshares’s dividend payout ratio is currently 51.06%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Stephens restated an “equal weight” rating and issued a $36.00 price objective on shares of Southside Bancshares in a research report on Friday, September 19th. Keefe, Bruyette & Woods upped their price objective on shares of Southside Bancshares from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Monday, July 28th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.50.

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.