State of New Jersey Common Pension Fund D Has $1.97 Million Position in Southside Bancshares, Inc. $SBSI

State of New Jersey Common Pension Fund D grew its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,979 shares of the bank’s stock after acquiring an additional 2,603 shares during the period. State of New Jersey Common Pension Fund D owned about 0.22% of Southside Bancshares worth $1,971,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBSI. Meeder Asset Management Inc. bought a new position in shares of Southside Bancshares in the 1st quarter valued at about $29,000. AlphaQuest LLC grew its position in shares of Southside Bancshares by 223,400.0% in the 1st quarter. AlphaQuest LLC now owns 2,235 shares of the bank’s stock valued at $65,000 after acquiring an additional 2,234 shares during the period. Hilltop National Bank bought a new position in shares of Southside Bancshares in the 2nd quarter valued at about $67,000. Bill Few Associates Inc. bought a new position in shares of Southside Bancshares in the 2nd quarter valued at about $202,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Southside Bancshares in the 1st quarter valued at about $204,000. Institutional investors own 55.70% of the company’s stock.

Southside Bancshares Stock Performance

Shares of SBSI stock opened at $28.37 on Friday. The company has a market capitalization of $853.22 million, a price-to-earnings ratio of 9.75 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50-day simple moving average of $29.23 and a 200 day simple moving average of $29.20. Southside Bancshares, Inc. has a 52 week low of $25.85 and a 52 week high of $38.00.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $1.44 annualized dividend and a dividend yield of 5.1%. Southside Bancshares’s payout ratio is presently 62.61%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. 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 report on Monday. Stephens reaffirmed an “equal weight” rating and set a $36.00 price objective on shares of Southside Bancshares in a research report on Friday, September 19th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.50.

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.