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

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 dividend on an annualized basis and a dividend yield of 4.45%.

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

Southside Bancshares Stock Performance

Shares of NASDAQ:SBSI traded up $0.18 during mid-day trading on Thursday, reaching $32.34. The company had a trading volume of 78,933 shares, compared to its average volume of 114,647. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. The firm has a market cap of $980.23 million, a price-to-earnings ratio of 11.11 and a beta of 0.57. The company’s 50-day moving average price is $32.62 and its 200-day moving average price is $33.19. Southside Bancshares has a one year low of $25.30 and a one year high of $38.00.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stephens reduced their price target on shares of Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating for the company 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 assumed coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They set a “market perform” rating for the company.

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.