Geode Capital Management LLC Decreases Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Geode Capital Management LLC decreased its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 656,388 shares of the bank's stock after selling 15,278 shares during the period. Geode Capital Management LLC owned 2.17% of Southside Bancshares worth $20,852,000 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 boosted its stake in shares of Southside Bancshares by 137.6% during 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 in the last quarter. Jane Street Group LLC increased 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 valued at $1,791,000 after buying an additional 29,163 shares during the period. Wedge Capital Management L L P NC bought a new position in Southside Bancshares in the fourth quarter worth about $673,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 during the period. Hedge funds and other institutional investors own 55.70% of the company's stock.

Southside Bancshares Stock Up 0.7 %

Shares of SBSI stock traded up $0.21 during trading hours on Wednesday, hitting $28.45. 67,778 shares of the company's stock traded hands, compared to its average volume of 115,745. 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 $864.50 million, a price-to-earnings ratio of 9.76 and a beta of 0.58. The stock's fifty day simple moving average is $28.97 and its two-hundred day simple moving average is $31.74. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-month high of $38.00.

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 issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.06%. The ex-dividend date was Thursday, February 20th. Southside Bancshares's dividend payout ratio (DPR) is 49.48%.

Wall Street Analysts Forecast Growth

SBSI has been the topic of a number of research analyst reports. 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. Raymond James started coverage on Southside Bancshares in a report on Tuesday, January 14th. They issued a "market perform" rating for the company. Finally, StockNews.com upgraded shares of Southside Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th.

Southside Bancshares Company 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.