Southside Bancshares, Inc. (NASDAQ:SBSI) Announces Quarterly Dividend of $0.36

Southside Bancshares, Inc. (NASDAQ:SBSI) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Investors of record on Thursday, February 20th will be given a dividend of 0.36 per share by the bank on Thursday, March 6th. This represents a $1.44 annualized dividend and a yield of 4.45%.

Southside Bancshares has raised its dividend by an average of 3.9% annually over the last three years and has increased its dividend annually for the last 30 consecutive years.

Southside Bancshares Stock Performance

SBSI stock traded up $0.18 during midday trading on Thursday, hitting $32.34. 78,933 shares of the stock traded hands, compared to its average volume of 114,647. The firm has a market cap of $980.23 million, a P/E ratio of 11.11 and a beta of 0.57. 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 stock’s fifty day simple moving average is $32.62 and its 200-day simple moving average is $33.19. Southside Bancshares has a 1-year low of $25.30 and a 1-year high of $38.00.

Wall Street Analyst Weigh In

SBSI has been the topic of several research analyst reports. Stephens dropped their target price on shares of Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Raymond James initiated coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They issued a “market perform” rating on the stock.

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.