Brown Brothers Harriman & Co. Sells 13,737 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

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

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Southside Bancshares by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 671,666 shares of the bank's stock worth $22,458,000 after purchasing an additional 3,097 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Southside Bancshares by 32.9% during the fourth quarter. JPMorgan Chase & Co. now owns 511,741 shares of the bank's stock valued at $16,253,000 after buying an additional 126,587 shares during the period. American Century Companies Inc. raised its stake in Southside Bancshares by 4.6% in the fourth quarter. American Century Companies Inc. now owns 282,254 shares of the bank's stock worth $8,964,000 after buying an additional 12,345 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Southside Bancshares by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 138,159 shares of the bank's stock worth $4,388,000 after buying an additional 4,018 shares during the period. Finally, Rhumbline Advisers boosted its position in Southside Bancshares by 1.4% during the 4th quarter. Rhumbline Advisers now owns 87,307 shares of the bank's stock valued at $2,773,000 after acquiring an additional 1,244 shares in the last quarter. 55.70% of the stock is owned by hedge funds and other institutional investors.

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Southside Bancshares Stock Down 5.2 %

Shares of SBSI stock traded down $1.53 during trading hours on Thursday, hitting $27.58. 69,258 shares of the company's stock traded hands, compared to its average volume of 111,383. 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 stock's fifty day simple moving average is $30.44 and its two-hundred day simple moving average is $32.41. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-month high of $38.00. The stock has a market cap of $838.00 million, a price-to-earnings ratio of 9.48 and a beta of 0.56.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date was Thursday, February 20th. Southside Bancshares's payout ratio is 49.48%.

Wall Street Analyst Weigh In

SBSI has been the subject of several research reports. Raymond James started coverage on Southside Bancshares in a research report on Tuesday, January 14th. They issued a "market perform" rating for the company. StockNews.com upgraded Southside Bancshares from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Finally, Stephens lowered their price objective on 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.

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.