Townsquare Capital LLC Decreases Stock Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Townsquare Capital LLC cut its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,324 shares of the bank's stock after selling 10,817 shares during the quarter. Townsquare Capital LLC owned approximately 0.35% of Southside Bancshares worth $3,377,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC grew its stake in shares of Southside Bancshares by 867.4% in the 4th quarter. Sterling Capital Management LLC now owns 919 shares of the bank's stock worth $29,000 after buying an additional 824 shares during the last quarter. Raymond James Financial Inc. bought a new position in Southside Bancshares in the 4th quarter valued at approximately $337,000. Renaissance Technologies LLC boosted its stake in Southside Bancshares by 4.0% during the 4th quarter. Renaissance Technologies LLC now owns 538,985 shares of the bank's stock valued at $17,118,000 after purchasing an additional 20,800 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Southside Bancshares by 139.9% in the 4th quarter. Invesco Ltd. now owns 292,680 shares of the bank's stock worth $9,296,000 after purchasing an additional 170,685 shares in the last quarter. Finally, Rahlfs Capital LLC purchased a new position in shares of Southside Bancshares in the fourth quarter worth $331,000. 55.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SBSI has been the subject of several research analyst reports. Raymond James began coverage on Southside Bancshares in a report on Tuesday, January 14th. They issued a "market perform" rating for the company. Stephens dropped their target price 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, StockNews.com raised Southside Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th.

Southside Bancshares Stock Performance

Southside Bancshares stock traded up $0.20 during midday trading on Friday, hitting $27.59. The stock had a trading volume of 123,325 shares, compared to its average volume of 115,682. The company has a market capitalization of $838.52 million, a PE ratio of 9.48 and a beta of 0.58. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00. The firm's fifty day moving average is $29.11 and its two-hundred day moving average is $31.80. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $1.44 dividend on an annualized basis and a yield of 5.22%. Southside Bancshares's payout ratio is presently 49.48%.

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.