Invesco Ltd. Boosts Stock Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Invesco Ltd. boosted its position in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 139.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 292,680 shares of the bank's stock after purchasing an additional 170,685 shares during the quarter. Invesco Ltd. owned about 0.97% of Southside Bancshares worth $9,296,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SBSI. GAMMA Investing LLC grew its holdings in shares of Southside Bancshares by 61.1% during the 4th quarter. GAMMA Investing LLC now owns 1,337 shares of the bank's stock worth $42,000 after purchasing an additional 507 shares in the last quarter. Quantbot Technologies LP lifted its position in Southside Bancshares by 34.9% during the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock worth $124,000 after purchasing an additional 1,006 shares during the period. KLP Kapitalforvaltning AS bought a new position in Southside Bancshares in the 4th quarter valued at about $178,000. Magnetar Financial LLC acquired a new position in shares of Southside Bancshares in the 4th quarter valued at approximately $218,000. Finally, Rahlfs Capital LLC bought a new stake in shares of Southside Bancshares during the 4th quarter worth approximately $331,000. 55.70% of the stock is currently owned by institutional investors.

Southside Bancshares Stock Performance

SBSI stock traded down $0.39 during mid-day trading on Friday, hitting $28.27. The company had a trading volume of 110,919 shares, compared to its average volume of 115,731. 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 stock's fifty day moving average price is $28.79 and its two-hundred day moving average price is $31.66. Southside Bancshares, Inc. has a 12 month low of $25.30 and a 12 month high of $38.00. The firm has a market cap of $859.00 million, a PE ratio of 9.71 and a beta of 0.58.

Southside Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares's dividend payout ratio is presently 49.48%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SBSI shares. StockNews.com upgraded Southside Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Raymond James began coverage on Southside Bancshares in a report on Tuesday, January 14th. They set a "market perform" rating for the company. Finally, Stephens dropped their price target on Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating for the company in a research note 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.