Bank of New York Mellon Corp Trims Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Bank of New York Mellon Corp decreased its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 300,543 shares of the bank’s stock after selling 2,095 shares during the period. Bank of New York Mellon Corp owned about 0.99% of Southside Bancshares worth $9,545,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in Southside Bancshares by 61.1% in the fourth quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock worth $42,000 after purchasing an additional 507 shares during the period. Point72 DIFC Ltd purchased a new stake in Southside Bancshares in the third quarter worth $83,000. Quantbot Technologies LP increased its stake in Southside Bancshares by 190.1% in the third quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock worth $96,000 after purchasing an additional 1,890 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in Southside Bancshares by 172.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,176 shares of the bank’s stock worth $106,000 after purchasing an additional 2,011 shares during the period. Finally, FMR LLC increased its stake in Southside Bancshares by 226.9% in 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 during the period. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SBSI shares. StockNews.com upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Stephens cut their price target on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Finally, Raymond James started coverage on Southside Bancshares in a research note on Tuesday, January 14th. They set a “market perform” rating on the stock.

Southside Bancshares Stock Performance

Shares of Southside Bancshares stock opened at $29.32 on Friday. Southside Bancshares, Inc. has a 12 month low of $25.30 and a 12 month high of $38.00. The stock’s fifty day moving average price is $31.02 and its 200-day moving average price is $32.83. The firm has a market cap of $890.88 million, a P/E ratio of 10.07 and a beta of 0.56. 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 disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares’s payout ratio is currently 49.48%.

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.