JPMorgan Chase & Co. boosted its stake in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 32.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 511,741 shares of the bank's stock after acquiring an additional 126,587 shares during the quarter. JPMorgan Chase & Co. owned 1.69% of Southside Bancshares worth $16,253,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new stake in Southside Bancshares in the 4th quarter valued at approximately $178,000. American Century Companies Inc. boosted its holdings in Southside Bancshares by 4.6% during the fourth quarter. American Century Companies Inc. now owns 282,254 shares of the bank's stock worth $8,964,000 after purchasing an additional 12,345 shares during the last quarter. Quantbot Technologies LP grew its position in Southside Bancshares by 34.9% in the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock valued at $124,000 after purchasing an additional 1,006 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Southside Bancshares in the 4th quarter valued at $218,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Southside Bancshares by 54.2% during the 4th 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. Institutional investors own 55.70% of the company's stock.
Southside Bancshares Stock Performance
Southside Bancshares stock traded up $0.43 during midday trading on Tuesday, reaching $27.34. 110,583 shares of the company's stock were exchanged, compared to its average volume of 115,228. The stock's 50-day simple moving average is $29.46 and its 200 day simple moving average is $31.94. The firm has a market cap of $830.71 million, a price-to-earnings ratio of 9.39 and a beta of 0.58. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $38.00.
Southside Bancshares Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date was Thursday, February 20th. Southside Bancshares's dividend payout ratio (DPR) is presently 49.48%.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Stephens dropped 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 began coverage on shares of Southside Bancshares in a research note on Tuesday, January 14th. They issued a "market perform" rating for the company. Finally, StockNews.com raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday.
Check Out Our Latest Research Report on Southside Bancshares
Southside Bancshares Profile
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Free Report)
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.
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