Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 656,388 shares of the bank's stock after selling 15,278 shares during the period. Geode Capital Management LLC owned 2.17% of Southside Bancshares worth $20,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Southside Bancshares by 79.3% in the third quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank's stock valued at $12,876,000 after purchasing an additional 170,287 shares during the period. Barclays PLC increased its holdings in Southside Bancshares by 137.6% in the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank's stock worth $1,981,000 after buying an additional 34,316 shares during the period. Jane Street Group LLC raised its position in Southside Bancshares by 119.5% during the 3rd quarter. Jane Street Group LLC now owns 53,571 shares of the bank's stock worth $1,791,000 after buying an additional 29,163 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Southside Bancshares in the 4th quarter valued at $673,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Southside Bancshares by 54.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,482 shares of the bank's stock valued at $1,730,000 after acquiring an additional 19,141 shares during the last quarter. Hedge funds and other institutional investors own 55.70% of the company's stock.

Southside Bancshares Price Performance

Shares of Southside Bancshares stock traded down $0.16 during trading hours on Thursday, reaching $28.43. The stock had a trading volume of 13,989 shares, compared to its average volume of 121,643. The stock's 50 day moving average is $28.91 and its 200 day moving average is $31.72. 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 twelve month low of $25.30 and a twelve month high of $38.00. The firm has a market capitalization of $863.99 million, a PE ratio of 9.76 and a beta of 0.58.

Southside Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.07%. The ex-dividend date was Thursday, February 20th. Southside Bancshares's payout ratio is currently 49.48%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SBSI. Raymond James assumed coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They set a "market perform" rating for the company. Stephens lowered their target price on Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 30th. Finally, StockNews.com upgraded Southside Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th.

Southside Bancshares Company 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.