Southside Bancshares (NASDAQ:SBSI) Sets New 12-Month Low - What's Next?

Shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $25.30 and last traded at $26.91, with a volume of 663 shares traded. The stock had previously closed at $26.94.

Analyst Ratings Changes

SBSI has been the topic of several research analyst reports. Stephens dropped their target price 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. Raymond James started coverage on shares of Southside Bancshares in a report on Tuesday, January 14th. They set a "market perform" rating on the stock. Finally, StockNews.com lowered Southside Bancshares from a "hold" rating to a "sell" rating in a research note on Monday, April 7th.

Southside Bancshares Trading Up 0.2 %

The stock has a market cap of $806.85 million, a PE ratio of 9.12 and a beta of 0.58. The company's fifty day moving average is $29.57 and its 200-day moving average is $31.98. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76.

Southside Bancshares Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date was Thursday, February 20th. Southside Bancshares's payout ratio is presently 49.48%.

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Institutional Investors Weigh In On Southside Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in SBSI. Sterling Capital Management LLC increased its holdings in Southside Bancshares by 867.4% in the fourth quarter. Sterling Capital Management LLC now owns 919 shares of the bank's stock valued at $29,000 after buying an additional 824 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Southside Bancshares by 61.1% in the 4th quarter. GAMMA Investing LLC now owns 1,337 shares of the bank's stock valued at $42,000 after purchasing an additional 507 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Southside Bancshares in the 4th quarter worth about $103,000. FMR LLC boosted its position in Southside Bancshares by 226.9% during the third quarter. FMR LLC now owns 3,432 shares of the bank's stock worth $115,000 after purchasing an additional 2,382 shares in the last quarter. Finally, Quantbot Technologies LP boosted 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 in the last quarter. Institutional investors and hedge funds own 55.70% of the company's stock.

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.