Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 54.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,482 shares of the bank's stock after purchasing an additional 19,141 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.18% of Southside Bancshares worth $1,730,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Southside Bancshares by 79.3% during the third quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank's stock worth $12,876,000 after buying an additional 170,287 shares during the period. Barclays PLC lifted its position in shares of Southside Bancshares by 137.6% during the third quarter. Barclays PLC now owns 59,263 shares of the bank's stock worth $1,981,000 after purchasing an additional 34,316 shares in the last quarter. Jane Street Group LLC lifted its position 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 in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Southside Bancshares by 73.6% during the third quarter. Thrivent Financial for Lutherans now owns 59,801 shares of the bank's stock worth $1,999,000 after purchasing an additional 25,350 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Southside Bancshares during the fourth quarter worth about $673,000. Institutional investors and hedge funds own 55.70% of the company's stock.

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Analyst Ratings Changes

SBSI has been the topic of several research reports. StockNews.com raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Stephens reduced 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 report on Thursday, January 30th. Finally, 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.

Southside Bancshares Stock Performance

NASDAQ:SBSI traded up $0.07 during midday trading on Friday, reaching $29.24. The stock had a trading volume of 382,892 shares, compared to its average volume of 104,147. The firm has a fifty day simple moving average of $30.84 and a two-hundred day simple moving average of $32.63. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-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 stock has a market cap of $888.57 million, a P/E ratio of 10.05 and a beta of 0.56.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $1.44 annualized dividend and a dividend yield of 4.92%. Southside Bancshares's payout ratio is currently 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.