American Century Companies Inc. Buys 12,345 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

American Century Companies Inc. raised its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 282,254 shares of the bank's stock after buying an additional 12,345 shares during the period. American Century Companies Inc. owned about 0.93% of Southside Bancshares worth $8,964,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Southside Bancshares by 61.1% in the 4th quarter. GAMMA Investing LLC now owns 1,337 shares of the bank's stock worth $42,000 after purchasing an additional 507 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Southside Bancshares by 1.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 59,618 shares of the bank's stock valued at $1,893,000 after purchasing an additional 932 shares during the period. Quantbot Technologies LP increased its position in Southside Bancshares by 34.9% in the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock worth $124,000 after buying an additional 1,006 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Southside Bancshares by 1.4% in the fourth quarter. Rhumbline Advisers now owns 87,307 shares of the bank's stock worth $2,773,000 after buying an additional 1,244 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Southside Bancshares by 172.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,176 shares of the bank's stock valued at $106,000 after buying an additional 2,011 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors.

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Southside Bancshares Price Performance

Shares of NASDAQ:SBSI traded down $0.26 during trading on Monday, hitting $26.69. 286,634 shares of the company's stock were exchanged, compared to its average volume of 113,551. The business's 50-day simple moving average is $30.13 and its 200 day simple moving average is $32.24. The company has a market cap of $810.96 million, a price-to-earnings ratio of 9.17 and a beta of 0.58. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76.

Southside Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares's dividend payout ratio (DPR) is currently 49.48%.

Analysts Set New Price Targets

SBSI has been the subject of several analyst reports. Raymond James began coverage on shares of Southside Bancshares in a report on Tuesday, January 14th. They issued a "market perform" rating for the company. Stephens reduced their price objective on shares of Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Southside Bancshares from a "hold" rating to a "sell" rating in a research report on Monday.

Southside Bancshares Profile

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.