10,423 Shares in Southside Bancshares, Inc. (NASDAQ:SBSI) Bought by Rahlfs Capital LLC

Rahlfs Capital LLC bought a new stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,423 shares of the bank's stock, valued at approximately $331,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBSI. JPMorgan Chase & Co. lifted its holdings in shares of Southside Bancshares by 79.3% during the 3rd 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 last quarter. Barclays PLC lifted its stake in 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 during the last quarter. Jane Street Group LLC boosted its holdings in shares of Southside Bancshares by 119.5% in the 3rd 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. Wedge Capital Management L L P NC bought a new position in shares of Southside Bancshares during the 4th quarter valued at about $673,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Southside Bancshares by 54.2% in 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 during the last quarter. Hedge funds and other institutional investors own 55.70% of the company's stock.

Southside Bancshares Stock Down 4.1 %

Southside Bancshares stock traded down $1.13 on Thursday, hitting $26.51. 62,865 shares of the stock traded hands, compared to its average volume of 114,621. Southside Bancshares, Inc. has a 1 year low of $25.30 and a 1 year high of $38.00. The firm has a market cap of $805.52 million, a P/E ratio of 9.04 and a beta of 0.58. The business's fifty day simple moving average is $29.76 and its 200 day simple moving average is $32.08. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18.

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Southside Bancshares Dividend Announcement

The company 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 5.43%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares's payout ratio is 49.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. 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. StockNews.com lowered shares of Southside Bancshares from a "hold" rating to a "sell" rating in a report on Monday. Finally, Raymond James assumed coverage on shares of Southside Bancshares in a research note on Tuesday, January 14th. They issued a "market perform" rating for the company.

Southside Bancshares 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.