State of New Jersey Common Pension Fund D Acquires 932 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

State of New Jersey Common Pension Fund D increased its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,618 shares of the bank’s stock after acquiring an additional 932 shares during the period. State of New Jersey Common Pension Fund D owned about 0.20% of Southside Bancshares worth $1,893,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SBSI. Geode Capital Management LLC boosted its holdings in Southside Bancshares by 0.5% in the third quarter. Geode Capital Management LLC now owns 671,666 shares of the bank’s stock valued at $22,458,000 after acquiring an additional 3,097 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Southside Bancshares by 79.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank’s stock valued at $12,876,000 after purchasing an additional 170,287 shares in the last quarter. Rhumbline Advisers increased its position in shares of Southside Bancshares by 1.4% during the fourth quarter. Rhumbline Advisers now owns 87,307 shares of the bank’s stock valued at $2,773,000 after buying an additional 1,244 shares during the period. Empowered Funds LLC grew its holdings in shares of Southside Bancshares by 5.1% during the 4th quarter. Empowered Funds LLC now owns 78,013 shares of the bank’s stock worth $2,478,000 after acquiring an additional 3,763 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Southside Bancshares by 73.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 59,801 shares of the bank’s stock valued at $1,999,000 after buying an additional 25,350 shares in the last quarter. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Southside Bancshares Trading Down 0.9 %

Shares of NASDAQ SBSI opened at $30.05 on Tuesday. The firm’s 50 day moving average price is $31.65 and its 200-day moving average price is $33.05. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00. 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 cap of $910.82 million, a PE ratio of 10.33 and a beta of 0.57.

Southside Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is 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.