Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,630 shares of the bank’s stock after selling 3,179 shares during the period. Fisher Asset Management LLC’s holdings in Southside Bancshares were worth $1,703,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Southside Bancshares by 61.1% in the 4th quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock valued at $42,000 after acquiring an additional 507 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Southside Bancshares in the 3rd quarter valued at about $83,000. Quantbot Technologies LP raised its holdings in Southside Bancshares by 190.1% in the 3rd quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock valued at $96,000 after acquiring an additional 1,890 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Southside Bancshares by 172.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,176 shares of the bank’s stock valued at $106,000 after acquiring an additional 2,011 shares during the last quarter. Finally, FMR LLC raised its holdings in Southside Bancshares by 226.9% in the 3rd quarter. FMR LLC now owns 3,432 shares of the bank’s stock valued at $115,000 after acquiring an additional 2,382 shares during the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Stock Performance

Southside Bancshares stock opened at $29.76 on Thursday. The firm has a 50 day simple moving average of $31.38 and a 200-day simple moving average of $33.00. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-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 stock has a market cap of $902.06 million, a price-to-earnings ratio of 10.23 and a beta of 0.57.

Southside Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 20th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, February 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.84%. Southside Bancshares’s payout ratio is currently 49.48%.

Wall Street Analysts Forecast Growth

SBSI has been the subject of several analyst reports. Stephens dropped their price target on shares of Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, January 30th. Raymond James initiated coverage on shares of Southside Bancshares in a research note on Tuesday, January 14th. They issued a “market perform” rating for the company. Finally, StockNews.com raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st.

Southside Bancshares 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.