Townsquare Capital LLC Reduces Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Townsquare Capital LLC lessened its position in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,324 shares of the bank's stock after selling 10,817 shares during the period. Townsquare Capital LLC owned 0.35% of Southside Bancshares worth $3,377,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased 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 valued at $22,458,000 after purchasing an additional 3,097 shares during the period. Renaissance Technologies LLC increased its stake in shares of Southside Bancshares by 4.0% during the fourth quarter. Renaissance Technologies LLC now owns 538,985 shares of the bank's stock valued at $17,118,000 after buying an additional 20,800 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Southside Bancshares by 32.9% during the fourth quarter. JPMorgan Chase & Co. now owns 511,741 shares of the bank's stock valued at $16,253,000 after acquiring an additional 126,587 shares in the last quarter. Invesco Ltd. lifted its stake in Southside Bancshares by 139.9% in the fourth quarter. Invesco Ltd. now owns 292,680 shares of the bank's stock worth $9,296,000 after acquiring an additional 170,685 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Southside Bancshares by 4.6% in the fourth quarter. American Century Companies Inc. now owns 282,254 shares of the bank's stock valued at $8,964,000 after acquiring an additional 12,345 shares in the last quarter. Hedge funds and other institutional investors own 55.70% of the company's stock.

Southside Bancshares Stock Up 0.7 %

Shares of NASDAQ SBSI traded up $0.20 on Friday, reaching $27.59. 123,325 shares of the company's stock traded hands, compared to its average volume of 115,682. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. The business's 50 day simple moving average is $29.11 and its two-hundred day simple moving average is $31.80. Southside Bancshares, Inc. has a 12 month low of $25.30 and a 12 month high of $38.00. The company has a market cap of $838.52 million, a price-to-earnings ratio of 9.48 and a beta of 0.58.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares's payout ratio is 49.48%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Raymond James initiated coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They set a "market perform" rating on the stock. Stephens reduced 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. Finally, StockNews.com upgraded Southside Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th.

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.