AQR Capital Management LLC Sells 27,930 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

AQR Capital Management LLC decreased its stake in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 209,016 shares of the bank's stock after selling 27,930 shares during the period. AQR Capital Management LLC owned 0.69% of Southside Bancshares worth $6,638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SBSI. Barclays PLC boosted its position in shares of Southside Bancshares by 137.6% during the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank's stock valued at $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 third 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. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 507 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Southside Bancshares in the fourth quarter worth approximately $673,000. Finally, Empowered Funds LLC boosted its holdings in Southside Bancshares by 5.1% in 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. Institutional investors and hedge funds own 55.70% of the company's stock.

Southside Bancshares Stock Up 1.0%

NASDAQ:SBSI traded up $0.31 on Tuesday, hitting $29.98. The stock had a trading volume of 19,544 shares, compared to its average volume of 116,123. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $38.00. 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 business's fifty day moving average is $28.40 and its 200 day moving average is $31.27. The company has a market cap of $905.82 million, a PE ratio of 10.30 and a beta of 0.65.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share 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 company had revenue of $100.29 million for the quarter, compared to analyst estimates of $67.37 million. During the same quarter last year, the company earned $0.71 earnings per share. On average, equities research analysts expect that Southside Bancshares, Inc. will post 2.84 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.80%. Southside Bancshares's dividend payout ratio is presently 49.48%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Raymond James assumed coverage on Southside Bancshares in a report on Tuesday, January 14th. They issued a "market perform" rating on the stock. 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 report on Thursday, January 30th. Finally, StockNews.com upgraded Southside Bancshares from a "sell" rating to a "hold" rating in a report on Friday.

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.