NFJ Investment Group LLC Sells 721 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

NFJ Investment Group LLC lessened its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 1.2% in the fourth quarter, Holdings Channel reports. The firm owned 58,739 shares of the bank’s stock after selling 721 shares during the period. NFJ Investment Group LLC’s holdings in Southside Bancshares were worth $1,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SBSI. FMR LLC grew its position in Southside Bancshares by 226.9% during the third quarter. FMR LLC now owns 3,432 shares of the bank’s stock valued at $115,000 after buying an additional 2,382 shares during the period. Jane Street Group LLC grew its position in shares of Southside Bancshares by 119.5% during the 3rd quarter. Jane Street Group LLC now owns 53,571 shares of the bank’s stock valued at $1,791,000 after acquiring an additional 29,163 shares during the period. Barclays PLC increased its stake in shares of Southside Bancshares by 137.6% during the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank’s stock worth $1,981,000 after purchasing an additional 34,316 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Southside Bancshares by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 671,666 shares of the bank’s stock worth $22,458,000 after purchasing an additional 3,097 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in Southside Bancshares in the third quarter valued at approximately $511,000. 55.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBSI has been the topic of several research reports. 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. Raymond James began coverage on Southside Bancshares in a research note on Tuesday, January 14th. They issued a “market perform” rating on the stock. Finally, StockNews.com raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday.

Southside Bancshares Price Performance

Southside Bancshares stock opened at $27.59 on Friday. The firm has a market capitalization of $838.52 million, a P/E ratio of 9.48 and a beta of 0.58. Southside Bancshares, Inc. has a one year low of $25.30 and a one year high of $38.00. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76. The business has a fifty day moving average price of $29.28 and a 200-day moving average price of $31.87.

Southside Bancshares Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date was Thursday, February 20th. 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.