JPMorgan Chase & Co. Boosts Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

JPMorgan Chase & Co. grew its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 32.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 511,741 shares of the bank's stock after buying an additional 126,587 shares during the quarter. JPMorgan Chase & Co. owned 1.69% of Southside Bancshares worth $16,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Southside Bancshares by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 671,666 shares of the bank's stock valued at $22,458,000 after buying an additional 3,097 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Southside Bancshares by 4.6% during the fourth quarter. American Century Companies Inc. now owns 282,254 shares of the bank's stock worth $8,964,000 after acquiring an additional 12,345 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Southside Bancshares by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 138,159 shares of the bank's stock worth $4,388,000 after buying an additional 4,018 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Southside Bancshares by 1.4% during the fourth quarter. Rhumbline Advisers now owns 87,307 shares of the bank's stock valued at $2,773,000 after buying an additional 1,244 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Southside Bancshares by 5.1% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 55.70% of the company's stock.

Analyst Upgrades and Downgrades

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

Southside Bancshares Stock Up 0.3 %

Southside Bancshares stock traded up $0.08 during trading on Thursday, reaching $27.47. The stock had a trading volume of 25,333 shares, compared to its average volume of 121,278. The stock has a market cap of $834.72 million, a PE ratio of 9.44 and a beta of 0.58. The business has a 50 day moving average price of $29.28 and a 200 day moving average price of $31.87. 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.

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.24%. The ex-dividend date was Thursday, February 20th. Southside Bancshares's payout ratio is 49.48%.

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.