Southside Bancshares said on February 2, 2023 that its board of directors declared a regular
quarterly dividend of $0.35 per share ($1.40 annualized).
Shareholders of record as of February 15, 2023
will receive the payment on March 2, 2023.
Previously, the company paid $0.34 per share.
At the current share price of $39.61 / share,
the stock’s dividend yield is 3.53%.
Looking back five years and taking a sample every week, the average dividend yield has been
3.76%,
the lowest has been 3.12%,
and the highest has been 5.23%.
The standard deviation of yields is 0.43 (n=236).
The current dividend yield is
0.53 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is 0.42.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.10%,
demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 3.76% Downside
As of February 4, 2023,
the average one-year price target for Southside Bancshares is $38.12.
The forecasts range from a low of $36.36 to a high of $42.00.
The average price target represents a decrease of 3.76% from its latest reported closing price of $39.61.
The projected annual revenue for Southside Bancshares
is $287MM, an increase of 14.63%.
The projected annual EPS
is $3.37, an increase of 2.96%.
Fund Sentiment
There are 390 funds or institutions reporting positions in Southside Bancshares.
This is an increase
of
6
owner(s) or 1.56%.
Average portfolio weight of all funds dedicated to US:SBSI is 0.0834%,
a decrease
of 3.4672%.
Total shares owned by institutions increased
in the last three months by 0.86% to 19,320K shares.
What are large shareholders doing?
IJR – iShares Core S&P Small-Cap ETF
holds 2,218,003 shares
representing 7.06% ownership of the company.
In it’s prior filing, the firm reported owning 2,178,995 shares, representing
an increase
of 1.76%.
The firm
decreased
its portfolio allocation in SBSI by 2.38% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 897,797 shares
representing 2.86% ownership of the company.
In it’s prior filing, the firm reported owning 897,515 shares, representing
an increase
of 0.03%.
The firm
decreased
its portfolio allocation in SBSI by 1.47% over the last quarter.
IWM – iShares Russell 2000 ETF
holds 680,863 shares
representing 2.17% ownership of the company.
No change in the last quarter.
Renaissance Technologies
holds 590,185 shares
representing 1.88% ownership of the company.
In it’s prior filing, the firm reported owning 602,085 shares, representing
a decrease
of 2.02%.
The firm
increased
its portfolio allocation in SBSI by 10.69% over the last quarter.
Geode Capital Management
holds 559,762 shares
representing 1.78% ownership of the company.
In it’s prior filing, the firm reported owning 561,661 shares, representing
a decrease
of 0.34%.
The firm
decreased
its portfolio allocation in SBSI by 2.48% over the last quarter.
Southside Bancshares Background Information
(This description is provided by the company.)
Southside Bancshares, Inc. is a bank holding company headquartered in Tyler, Texas, with approximately $7.19 billion in assets as of September 30, 2020. Through its wholly-owned subsidiary, Southside Bank, Southside currently operates 57 branches and a network of 79 ATMs/ITMs throughout East Texas, Southeast Texas, Dallas/Fort Worth and Austin. Serving customers since 1960, Southside Bank is a community-focused financial institution that offers a full range of financial products and services to individuals and businesses. These products and services include consumer and commercial loans, mortgages, deposit accounts, safe deposit boxes, treasury management, wealth management, trust services, brokerage services and an array of online and mobile services.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
