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

Southside Bancshares, Inc. (NASDAQ:SBSI) declared 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 dividend on an annualized basis and a yield of 4.45%.

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

Southside Bancshares Trading Up 0.6 %

Shares of Southside Bancshares stock opened at $32.34 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. Southside Bancshares has a 12-month low of $25.30 and a 12-month high of $38.00. The company has a market capitalization of $980.23 million, a price-to-earnings ratio of 10.73 and a beta of 0.57. The firm’s 50-day moving average price is $32.56 and its two-hundred day moving average price is $33.19.

Wall Street Analysts Forecast Growth

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

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.