Brown Brothers Harriman & Co. Cuts Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Brown Brothers Harriman & Co. decreased its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 28.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,391 shares of the bank’s stock after selling 13,737 shares during the quarter. Brown Brothers Harriman & Co. owned approximately 0.11% of Southside Bancshares worth $1,092,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SBSI. GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 507 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Southside Bancshares during the third quarter worth approximately $83,000. Quantbot Technologies LP boosted its holdings in Southside Bancshares by 190.1% in 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 stake in Southside Bancshares by 172.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,176 shares of the bank’s stock valued at $106,000 after purchasing an additional 2,011 shares during the last quarter. Finally, FMR LLC raised its holdings in Southside Bancshares by 226.9% during the third quarter. FMR LLC now owns 3,432 shares of the bank’s stock worth $115,000 after purchasing an additional 2,382 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Trading Down 1.9 %

Shares of Southside Bancshares stock opened at $28.90 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $878.39 million, a P/E ratio of 9.93 and a beta of 0.56. Southside Bancshares, Inc. has a 1 year low of $25.30 and a 1 year high of $38.00. The company’s fifty day moving average is $30.63 and its two-hundred day moving average is $32.50.

Southside Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares’s dividend payout ratio is presently 49.48%.

Analyst Upgrades and Downgrades

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

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.