Principal Financial Group Inc. Raises Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Principal Financial Group Inc. lifted its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 138,159 shares of the bank’s stock after purchasing an additional 4,018 shares during the quarter. Principal Financial Group Inc. owned 0.46% of Southside Bancshares worth $4,388,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in Southside Bancshares by 61.1% during the fourth quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock valued at $42,000 after purchasing an additional 507 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Southside Bancshares during the 3rd quarter valued at about $83,000. Quantbot Technologies LP lifted its holdings in shares of Southside Bancshares by 190.1% in the 3rd quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock valued at $96,000 after acquiring an additional 1,890 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position 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 acquiring an additional 2,011 shares in the last quarter. Finally, FMR LLC grew its position 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 acquiring an additional 2,382 shares in the last quarter. Institutional investors own 55.70% of the company’s stock.

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 company has a market capitalization of $928.64 million, a price-to-earnings ratio of 10.53 and a beta of 0.57. The firm’s 50-day moving average is $31.45 and its 200 day moving average is $33.02.

Southside Bancshares Dividend Announcement

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

Analyst Ratings Changes

SBSI has been the subject of several analyst reports. Raymond James initiated coverage on Southside Bancshares in a research note on Tuesday, January 14th. They issued a “market perform” rating for the company. Stephens decreased their price target 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 Friday, January 31st.

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.