Thrivent Financial for Lutherans Sells 28,462 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Thrivent Financial for Lutherans cut its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 47.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,339 shares of the bank’s stock after selling 28,462 shares during the period. Thrivent Financial for Lutherans owned approximately 0.10% of Southside Bancshares worth $995,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SBSI. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Southside Bancshares by 54.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,482 shares of the bank’s stock worth $1,730,000 after buying an additional 19,141 shares during the last quarter. Amundi boosted its stake in Southside Bancshares by 168.5% during the 4th quarter. Amundi now owns 13,749 shares of the bank’s stock worth $423,000 after acquiring an additional 8,628 shares during the last quarter. Raymond James Financial Inc. bought a new position in Southside Bancshares during the 4th quarter worth approximately $337,000. Principal Financial Group Inc. grew its holdings in Southside Bancshares by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 138,159 shares of the bank’s stock valued at $4,388,000 after purchasing an additional 4,018 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in Southside Bancshares by 1.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 59,618 shares of the bank’s stock valued at $1,893,000 after purchasing an additional 932 shares in the last quarter. Institutional investors own 55.70% of the company’s stock.

Analyst Ratings Changes

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

Southside Bancshares Stock Performance

Shares of SBSI stock opened at $28.90 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $38.00. The company’s 50 day moving average price is $30.50 and its two-hundred day moving average price is $32.43. The company has a market capitalization of $878.27 million, a P/E ratio of 9.93 and a beta of 0.56.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.98%. Southside Bancshares’s payout ratio is 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.