AQR Capital Management LLC Cuts Stake in Southside Bancshares, Inc. (NASDAQ:SBSI)

AQR Capital Management LLC lowered its position in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 209,016 shares of the bank's stock after selling 27,930 shares during the quarter. AQR Capital Management LLC owned about 0.69% of Southside Bancshares worth $6,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased 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 purchasing an additional 34,316 shares in the last quarter. JPMorgan Chase & Co. boosted 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 buying an additional 170,287 shares during the period. GAMMA Investing LLC raised its holdings in Southside Bancshares by 61.1% during the 4th quarter. GAMMA Investing LLC now owns 1,337 shares of the bank's stock valued at $42,000 after acquiring an additional 507 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of Southside Bancshares during the fourth quarter worth $673,000. Finally, Empowered Funds LLC lifted its position in shares of Southside Bancshares by 5.1% during the fourth quarter. Empowered Funds LLC now owns 78,013 shares of the bank's stock worth $2,478,000 after acquiring an additional 3,763 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors.

Southside Bancshares Price Performance

Shares of SBSI stock traded up $0.05 on Friday, reaching $28.95. The company's stock had a trading volume of 92,820 shares, compared to its average volume of 116,451. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-month high of $38.00. The stock's 50 day simple moving average is $28.40 and its 200-day simple moving average is $31.30. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $874.70 million, a P/E ratio of 9.95 and a beta of 0.65.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.04. Southside Bancshares had a return on equity of 11.10% and a net margin of 19.40%. The firm had revenue of $100.29 million during the quarter, compared to the consensus estimate of $67.37 million. During the same quarter last year, the company posted $0.71 EPS. As a group, equities analysts predict that Southside Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Southside Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be paid a $0.36 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 4.97%. Southside Bancshares's dividend payout ratio is presently 49.48%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SBSI. StockNews.com upgraded Southside Bancshares from a "sell" rating to a "hold" rating in a research note on Friday. Stephens lowered 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 report on Thursday, January 30th. Finally, Raymond James started coverage on shares of Southside Bancshares in a research note on Tuesday, January 14th. They set a "market perform" rating for the company.

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.