SG Americas Securities LLC Sells 3,253 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

SG Americas Securities LLC reduced its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 38.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,269 shares of the bank’s stock after selling 3,253 shares during the period. SG Americas Securities LLC’s holdings in Southside Bancshares were worth $167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SBSI. GAMMA Investing LLC grew its stake in Southside Bancshares by 61.1% during the fourth quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock valued at $42,000 after acquiring an additional 507 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Southside Bancshares during the 3rd quarter valued at about $83,000. Quantbot Technologies LP grew its position in shares of Southside Bancshares by 190.1% during the third quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock valued at $96,000 after purchasing an additional 1,890 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Southside Bancshares by 172.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,176 shares of the bank’s stock worth $106,000 after purchasing an additional 2,011 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Southside Bancshares by 226.9% in the third quarter. FMR LLC now owns 3,432 shares of the bank’s stock worth $115,000 after buying an additional 2,382 shares in the last quarter. Institutional investors own 55.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBSI. Stephens cut their price target on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. StockNews.com raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Raymond James began coverage on shares of Southside Bancshares in a research note on Tuesday, January 14th. They set a “market perform” rating on the stock.

Southside Bancshares Trading Down 2.0 %

SBSI opened at $31.67 on Monday. Southside Bancshares, Inc. has a 12 month low of $25.30 and a 12 month high of $38.00. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average of $32.49 and a 200 day moving average of $33.21. The firm has a market cap of $959.73 million, a P/E ratio of 10.88 and a beta of 0.57.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Thursday, February 20th. Southside Bancshares’s dividend payout ratio is currently 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.