Fisher Asset Management LLC Has $1.92 Million Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Fisher Asset Management LLC decreased its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,316 shares of the bank’s stock after selling 3,727 shares during the quarter. Fisher Asset Management LLC’s holdings in Southside Bancshares were worth $1,920,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Commerce Bank acquired a new stake in Southside Bancshares during the 4th quarter valued at $202,000. Bill Few Associates Inc. acquired a new stake in shares of Southside Bancshares during the fourth quarter worth $203,000. SG Americas Securities LLC lifted its holdings in shares of Southside Bancshares by 16.9% during the fourth quarter. SG Americas Securities LLC now owns 7,722 shares of the bank’s stock worth $242,000 after buying an additional 1,115 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of Southside Bancshares during the third quarter worth $334,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Southside Bancshares during the third quarter worth $409,000. Institutional investors and hedge funds own 55.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBSI. StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Friday. Hovde Group dropped their target price on Southside Bancshares from $35.00 to $31.00 and set a “market perform” rating for the company in a report on Thursday, May 9th.

Southside Bancshares Stock Up 1.4 %

SBSI stock opened at $26.22 on Friday. The company has a market cap of $793.94 million, a PE ratio of 9.75 and a beta of 0.54. The business has a 50-day simple moving average of $27.01 and a 200 day simple moving average of $28.87. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $34.40. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.78.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.04). The company had revenue of $112.48 million during the quarter, compared to analyst estimates of $67.10 million. Southside Bancshares had a net margin of 19.79% and a return on equity of 10.80%. During the same period last year, the firm earned $0.84 EPS. Sell-side analysts anticipate that Southside Bancshares, Inc. will post 2.7 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date was Wednesday, May 22nd. Southside Bancshares’s dividend payout ratio (DPR) is presently 53.53%.

Southside Bancshares Company 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.