Sanctuary Advisors LLC Sells 3,586 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Sanctuary Advisors LLC cut its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 25.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,621 shares of the bank’s stock after selling 3,586 shares during the quarter. Sanctuary Advisors LLC’s holdings in Southside Bancshares were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SBSI. JPMorgan Chase & Co. grew its stake in shares of Southside Bancshares by 79.3% in the third 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 period. Barclays PLC grew its stake in shares of Southside Bancshares by 137.6% in the third quarter. Barclays PLC now owns 59,263 shares of the bank’s stock worth $1,981,000 after acquiring an additional 34,316 shares during the period. Jane Street Group LLC grew its stake in shares of Southside Bancshares by 119.5% in the third quarter. Jane Street Group LLC now owns 53,571 shares of the bank’s stock worth $1,791,000 after acquiring an additional 29,163 shares during the period. Thrivent Financial for Lutherans grew its position in 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 buying an additional 25,350 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Southside Bancshares by 179.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,341 shares of the bank’s stock valued at $1,181,000 after buying an additional 22,687 shares during the period. 55.70% of the stock is currently owned by institutional investors.

Southside Bancshares Stock Performance

Shares of NASDAQ SBSI opened at $30.64 on Tuesday. 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, Inc. has a 12-month low of $25.30 and a 12-month high of $38.00. The firm has a market capitalization of $928.64 million, a price-to-earnings ratio of 10.53 and a beta of 0.57. The firm has a 50 day moving average of $31.45 and a 200 day moving average of $33.02.

Southside Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.70%. The ex-dividend date is Thursday, February 20th. Southside Bancshares’s dividend payout ratio is currently 49.48%.

Wall Street Analyst Weigh In

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