Arrowstreet Capital Limited Partnership Has $2.96 Million Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Arrowstreet Capital Limited Partnership cut its position in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 37.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,153 shares of the bank's stock after selling 54,960 shares during the period. Arrowstreet Capital Limited Partnership owned 0.31% of Southside Bancshares worth $2,959,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Southside Bancshares by 79.3% in the third quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank's stock valued at $12,876,000 after acquiring an additional 170,287 shares during the last quarter. Barclays PLC raised its position in Southside Bancshares by 137.6% in the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank's stock valued at $1,981,000 after purchasing an additional 34,316 shares during the last quarter. Geode Capital Management LLC raised its position in Southside Bancshares by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 671,666 shares of the bank's stock valued at $22,458,000 after purchasing an additional 3,097 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Southside Bancshares by 119.5% during the third quarter. Jane Street Group LLC now owns 53,571 shares of the bank's stock worth $1,791,000 after purchasing an additional 29,163 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Southside Bancshares by 34.9% in the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock valued at $124,000 after buying an additional 1,006 shares in the last quarter. 55.70% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

SBSI has been the topic of several research reports. Raymond James assumed coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They set a "market perform" rating on the stock. Stephens decreased their price target on shares of Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday.

Southside Bancshares Trading Up 1.4 %

SBSI stock traded up $0.39 during midday trading on Tuesday, reaching $27.30. The stock had a trading volume of 13,624 shares, compared to its average volume of 114,853. The firm has a market cap of $829.65 million, a price-to-earnings ratio of 9.38 and a beta of 0.58. Southside Bancshares, Inc. has a twelve month low of $25.30 and a twelve month high of $38.00. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $29.46 and a two-hundred day simple moving average of $31.94.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.27%. The ex-dividend date was Thursday, February 20th. Southside Bancshares's dividend payout ratio is 49.48%.

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.