American Century Companies Inc. Increases Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

American Century Companies Inc. grew its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,254 shares of the bank’s stock after buying an additional 12,345 shares during the quarter. American Century Companies Inc. owned 0.93% of Southside Bancshares worth $8,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its position in Southside Bancshares by 0.5% in the third 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. increased its holdings in Southside Bancshares by 79.3% in the 3rd 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 in the last quarter. Principal Financial Group Inc. increased its holdings in Southside Bancshares by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 138,159 shares of the bank’s stock worth $4,388,000 after acquiring an additional 4,018 shares in the last quarter. Rhumbline Advisers raised its stake in Southside Bancshares by 1.4% during the 4th quarter. Rhumbline Advisers now owns 87,307 shares of the bank’s stock worth $2,773,000 after acquiring an additional 1,244 shares during the period. Finally, Empowered Funds LLC lifted its holdings in Southside Bancshares by 5.1% during the fourth quarter. Empowered Funds LLC now owns 78,013 shares of the bank’s stock valued at $2,478,000 after purchasing an additional 3,763 shares in the last quarter. 55.70% of the stock is owned by hedge funds and other institutional investors.

Southside Bancshares Stock Up 0.6 %

NASDAQ:SBSI opened at $29.07 on Thursday. The company has a market cap of $883.44 million, a price-to-earnings ratio of 9.99 and a beta of 0.56. Southside Bancshares, Inc. has a twelve month low of $25.30 and a twelve 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. The stock has a fifty day simple moving average of $30.44 and a 200-day simple moving average of $32.41.

Southside Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $1.44 annualized dividend and a dividend yield of 4.95%. Southside Bancshares’s dividend payout ratio is currently 49.48%.

Analysts Set New Price Targets

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

About Southside Bancshares

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.