Amundi Grows Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Amundi grew its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 168.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,749 shares of the bank’s stock after purchasing an additional 8,628 shares during the quarter. Amundi’s holdings in Southside Bancshares were worth $423,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Southside Bancshares by 61.1% during the 4th 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. State of New Jersey Common Pension Fund D increased its stake in Southside Bancshares by 1.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 59,618 shares of the bank’s stock worth $1,893,000 after purchasing an additional 932 shares during the period. Rhumbline Advisers increased its stake in Southside Bancshares by 1.4% in 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. Quantbot Technologies LP grew its position in shares of Southside Bancshares by 190.1% in the 3rd quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock worth $96,000 after buying an additional 1,890 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Southside Bancshares by 172.6% during 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 in the last quarter. 55.70% of the stock is owned by hedge funds and other institutional investors.

Southside Bancshares Trading Down 1.0 %

SBSI opened at $29.20 on Friday. 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 market capitalization of $887.24 million, a P/E ratio of 10.03 and a beta of 0.56. The stock’s fifty day moving average is $30.85 and its two-hundred day moving average is $32.66. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $38.00.

Southside Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $1.44 annualized dividend and a yield of 4.93%. Southside Bancshares’s dividend payout ratio (DPR) is presently 49.48%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SBSI. Raymond James initiated coverage on Southside Bancshares in a report on Tuesday, January 14th. They issued a “market perform” rating on the stock. Stephens dropped their price objective on 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. Finally, StockNews.com upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research report 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.