SG Americas Securities LLC Sells 3,253 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

SG Americas Securities LLC decreased its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 38.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,269 shares of the bank’s stock after selling 3,253 shares during the period. SG Americas Securities LLC’s holdings in Southside Bancshares were worth $167,000 as of its most recent SEC filing.

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% in 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 in the last quarter. JPMorgan Chase & Co. boosted 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 valued at $12,876,000 after acquiring an additional 170,287 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Southside Bancshares by 5.3% in the third quarter. Empowered Funds LLC now owns 74,250 shares of the bank’s stock worth $2,482,000 after acquiring an additional 3,752 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Southside Bancshares by 73.6% during the third quarter. Thrivent Financial for Lutherans now owns 59,801 shares of the bank’s stock valued at $1,999,000 after purchasing an additional 25,350 shares during the last quarter. Finally, Barclays PLC lifted its position in Southside Bancshares by 137.6% during the third quarter. Barclays PLC now owns 59,263 shares of the bank’s stock valued at $1,981,000 after purchasing an additional 34,316 shares during the period. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Southside Bancshares Stock Down 2.0 %

Shares of SBSI stock opened at $31.67 on Monday. The company has a 50 day simple moving average of $32.49 and a two-hundred day simple moving average of $33.21. The stock has a market cap of $959.73 million, a P/E ratio of 10.88 and a beta of 0.57. Southside Bancshares, Inc. has a 12 month low of $25.30 and a 12 month high of $38.00. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 20th will be issued a $0.36 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.44 dividend on an annualized basis and a yield of 4.55%. Southside Bancshares’s dividend payout ratio is currently 49.48%.

Wall Street Analyst Weigh In

A number of research firms have commented on SBSI. Raymond James assumed coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They issued a “market perform” rating for the company. StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Stephens lowered 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.

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.