Brown Brothers Harriman & Co. Cuts Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Brown Brothers Harriman & Co. decreased its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,391 shares of the bank's stock after selling 13,737 shares during the period. Brown Brothers Harriman & Co. owned 0.11% of Southside Bancshares worth $1,092,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SBSI. JPMorgan Chase & Co. lifted its stake in Southside Bancshares by 79.3% in the third quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank's stock worth $12,876,000 after acquiring an additional 170,287 shares during the period. Barclays PLC lifted its position in shares of Southside Bancshares by 137.6% in the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank's stock worth $1,981,000 after purchasing an additional 34,316 shares during the period. Jane Street Group LLC boosted its stake in shares of Southside Bancshares by 119.5% during the 3rd quarter. Jane Street Group LLC now owns 53,571 shares of the bank's stock valued at $1,791,000 after purchasing an additional 29,163 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Southside Bancshares during the fourth quarter valued at about $673,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Southside Bancshares by 54.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,482 shares of the bank's stock worth $1,730,000 after buying an additional 19,141 shares in the last quarter. Hedge funds and other institutional investors own 55.70% of the company's stock.

Southside Bancshares Stock Down 1.5 %

Shares of SBSI traded down $0.41 during mid-day trading on Friday, reaching $26.87. The company had a trading volume of 282,576 shares, compared to its average volume of 112,649. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $816.70 million, a price-to-earnings ratio of 9.24 and a beta of 0.56. The firm has a 50-day moving average price of $30.25 and a 200 day moving average price of $32.33. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $38.00.

Southside Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.36%. The ex-dividend date was Thursday, February 20th. Southside Bancshares's dividend payout ratio (DPR) is 49.48%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SBSI. Stephens reduced their target price on Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating on the stock in a report on Thursday, January 30th. StockNews.com raised Southside Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Raymond James started coverage on shares of Southside Bancshares in a report on Tuesday, January 14th. They set a "market perform" rating on the stock.

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.