Thrivent Financial for Lutherans Has $995,000 Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Thrivent Financial for Lutherans lowered its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 47.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,339 shares of the bank's stock after selling 28,462 shares during the quarter. Thrivent Financial for Lutherans owned 0.10% of Southside Bancshares worth $995,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SBSI. Geode Capital Management LLC raised its holdings in Southside Bancshares by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 671,666 shares of the bank's stock worth $22,458,000 after buying an additional 3,097 shares during the period. JPMorgan Chase & Co. lifted its position in Southside Bancshares by 79.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank's stock valued at $12,876,000 after acquiring an additional 170,287 shares in the last quarter. Principal Financial Group Inc. lifted its position in Southside Bancshares by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 138,159 shares of the bank's stock valued at $4,388,000 after acquiring an additional 4,018 shares in the last quarter. Rhumbline Advisers boosted its stake in Southside Bancshares by 1.4% in the 4th quarter. Rhumbline Advisers now owns 87,307 shares of the bank's stock worth $2,773,000 after purchasing an additional 1,244 shares during the period. Finally, Empowered Funds LLC increased its holdings in Southside Bancshares by 5.1% during the 4th quarter. Empowered Funds LLC now owns 78,013 shares of the bank's stock worth $2,478,000 after purchasing an additional 3,763 shares in the last quarter. Institutional investors own 55.70% of the company's stock.

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Analyst Upgrades and Downgrades

SBSI has been the subject of several recent research reports. Raymond James initiated coverage on Southside Bancshares in a research report on Tuesday, January 14th. They set a "market perform" rating for the company. StockNews.com raised Southside Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Stephens lowered their price objective on shares of Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating on the stock in a report on Thursday, January 30th.

Southside Bancshares Stock Down 6.4 %

Shares of NASDAQ SBSI traded down $1.85 during mid-day trading on Thursday, hitting $27.25. The company had a trading volume of 229,650 shares, compared to its average volume of 112,016. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. The firm has a 50-day simple moving average of $30.36 and a two-hundred day simple moving average of $32.37. The company has a market capitalization of $828.13 million, a PE ratio of 9.36 and a beta of 0.56. Southside Bancshares, Inc. has a one year low of $25.30 and a one year high of $38.00.

Southside Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.28%. The ex-dividend date was Thursday, February 20th. Southside Bancshares's dividend payout ratio (DPR) is 49.48%.

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.