Fisher Asset Management LLC Lowers Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Fisher Asset Management LLC trimmed its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,630 shares of the bank’s stock after selling 3,179 shares during the quarter. Fisher Asset Management LLC owned 0.18% of Southside Bancshares worth $1,703,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Southside Bancshares by 61.1% in the fourth quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock worth $42,000 after acquiring an additional 507 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Southside Bancshares in the third quarter worth about $83,000. Quantbot Technologies LP raised its position in shares of Southside Bancshares by 190.1% in the third quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock worth $96,000 after acquiring an additional 1,890 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position 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 acquiring an additional 2,011 shares during the period. Finally, FMR LLC raised 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 acquiring an additional 2,382 shares during the period. 55.70% of the stock is owned by hedge funds and other institutional investors.

Southside Bancshares Stock Down 0.7 %

SBSI opened at $29.76 on Thursday. Southside Bancshares, Inc. has a twelve month low of $25.30 and a twelve month 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 company has a 50-day moving average price of $31.38 and a 200 day moving average price of $33.00. The company has a market cap of $902.06 million, a PE ratio of 10.23 and a beta of 0.57.

Southside Bancshares Announces Dividend

The business also recently declared 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 of this dividend is Thursday, February 20th. This represents a $1.44 annualized dividend and a dividend yield of 4.84%. Southside Bancshares’s dividend payout ratio (DPR) is presently 49.48%.

Analyst Ratings Changes

A number of research analysts have weighed in on SBSI shares. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Stephens decreased their price objective on shares of Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. Finally, Raymond James began coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They issued a “market perform” rating for the company.

Southside Bancshares Company 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.