Southside Bancshares, Inc. $SBSI Stock Holdings Lowered by ProShare Advisors LLC

ProShare Advisors LLC trimmed its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 11.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 218,001 shares of the bank’s stock after selling 27,608 shares during the period. ProShare Advisors LLC’s holdings in Southside Bancshares were worth $6,416,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Southside Bancshares by 2.7% during the first quarter. Principal Financial Group Inc. now owns 141,885 shares of the bank’s stock worth $4,109,000 after purchasing an additional 3,726 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Southside Bancshares in the 1st quarter worth about $537,000. Royce & Associates LP purchased a new position in Southside Bancshares in the 1st quarter worth about $424,000. Enclave Advisors LLC acquired a new stake in Southside Bancshares during the 2nd quarter worth about $632,000. Finally, Voya Investment Management LLC lifted its stake in Southside Bancshares by 44.5% during the first quarter. Voya Investment Management LLC now owns 46,004 shares of the bank’s stock valued at $1,332,000 after buying an additional 14,164 shares in the last quarter. Institutional investors own 55.70% of the company’s stock.

Southside Bancshares Price Performance

Shares of SBSI opened at $28.81 on Friday. The business’s 50-day moving average is $28.72 and its 200-day moving average is $29.26. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $866.17 million, a price-to-earnings ratio of 9.90 and a beta of 0.68. Southside Bancshares, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $38.00.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be given a $0.36 dividend. The ex-dividend date is Thursday, November 20th. This represents a $1.44 dividend on an annualized basis and a yield of 5.0%. Southside Bancshares’s dividend payout ratio is presently 62.61%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBSI. Stephens reissued an “equal weight” rating and issued a $36.00 target price on shares of Southside Bancshares in a research report on Friday, September 19th. Keefe, Bruyette & Woods decreased their price objective on shares of Southside Bancshares from $32.00 to $31.00 and set a “market perform” rating for the company in a research note on Monday, October 27th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, Southside Bancshares currently has a consensus rating of “Hold” and a consensus target price of $33.50.

Southside Bancshares Profile

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.