Rahlfs Capital LLC Invests $331,000 in Southside Bancshares, Inc. (NASDAQ:SBSI)

Rahlfs Capital LLC acquired a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,423 shares of the bank’s stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBSI. Geode Capital Management LLC increased its holdings in shares of Southside Bancshares by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 671,666 shares of the bank’s stock worth $22,458,000 after buying an additional 3,097 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Southside Bancshares by 32.9% during the fourth quarter. JPMorgan Chase & Co. now owns 511,741 shares of the bank’s stock worth $16,253,000 after acquiring an additional 126,587 shares during the last quarter. American Century Companies Inc. raised its position in Southside Bancshares by 4.6% in the fourth quarter. American Century Companies Inc. now owns 282,254 shares of the bank’s stock valued at $8,964,000 after purchasing an additional 12,345 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Southside Bancshares by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 138,159 shares of the bank’s stock valued at $4,388,000 after purchasing an additional 4,018 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Southside Bancshares by 1.4% during the 4th quarter. Rhumbline Advisers now owns 87,307 shares of the bank’s stock worth $2,773,000 after purchasing an additional 1,244 shares during the period. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBSI. Stephens reduced their price objective 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. Raymond James started coverage on shares of Southside Bancshares in a report 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 research report on Friday, January 31st.

Southside Bancshares Price Performance

Shares of SBSI opened at $26.87 on Friday. The company has a market cap of $816.70 million, a P/E ratio of 9.24 and a beta of 0.56. Southside Bancshares, Inc. has a fifty-two week low of $25.30 and a fifty-two 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. The firm’s 50 day moving average price is $30.25 and its 200 day moving average price is $32.33.

Southside Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares’s payout ratio is currently 49.48%.

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.