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

Southside Bancshares, Inc. (NASDAQ:SBSI) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Thursday, November 20th will be paid a dividend of 0.36 per share by the bank on Thursday, December 4th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, November 20th.

Southside Bancshares has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 30 consecutive years.

Southside Bancshares Trading Up 0.5%

SBSI stock traded up $0.14 during trading on Friday, hitting $28.68. The company had a trading volume of 62,020 shares, compared to its average volume of 120,991. The stock has a market cap of $862.29 million, a PE ratio of 9.85 and a beta of 0.68. The business has a 50-day moving average of $28.95 and a 200-day moving average of $29.24. 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 has a one year low of $25.85 and a one year high of $38.00.

Institutional Trading of Southside Bancshares

A number of hedge funds have recently bought and sold shares of the business. Nuveen LLC bought a new position in Southside Bancshares during the first quarter valued at $2,187,000. Jane Street Group LLC bought a new position in Southside Bancshares in the 1st quarter valued at $1,520,000. American Century Companies Inc. grew its position in shares of Southside Bancshares by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 352,786 shares of the bank’s stock valued at $10,382,000 after purchasing an additional 45,598 shares in the last quarter. Invesco Ltd. boosted its stake in Southside Bancshares by 16.9% during the second quarter. Invesco Ltd. now owns 290,213 shares of the bank’s stock valued at $8,541,000 after buying an additional 42,057 shares during the period. Finally, Pingora Partners LLC purchased a new position in Southside Bancshares during the first quarter worth about $1,207,000. 55.70% of the stock is currently owned by institutional investors.

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.