Invesco Ltd. Boosts Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Invesco Ltd. increased its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 139.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 292,680 shares of the bank’s stock after buying an additional 170,685 shares during the period. Invesco Ltd. owned 0.97% of Southside Bancshares worth $9,296,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SBSI. JPMorgan Chase & Co. raised its position in shares of Southside Bancshares by 79.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank’s stock worth $12,876,000 after acquiring an additional 170,287 shares in the last quarter. Barclays PLC raised its stake in Southside Bancshares by 137.6% during the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank’s stock valued at $1,981,000 after purchasing an additional 34,316 shares during the period. Jane Street Group LLC increased its holdings in shares of Southside Bancshares by 119.5% in the third quarter. Jane Street Group LLC now owns 53,571 shares of the bank’s stock worth $1,791,000 after purchasing an additional 29,163 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in Southside Bancshares during the fourth quarter valued at approximately $673,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Southside Bancshares by 54.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,482 shares of the bank’s stock worth $1,730,000 after acquiring an additional 19,141 shares during the last quarter. Institutional investors own 55.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBSI. Stephens reduced their target price on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Raymond James initiated coverage on Southside Bancshares in a research report on Tuesday, January 14th. They issued a “market perform” rating for the company. Finally, StockNews.com upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th.

Southside Bancshares Trading Up 1.3 %

Southside Bancshares stock opened at $28.61 on Thursday. The company has a market cap of $869.34 million, a P/E ratio of 9.83 and a beta of 0.58. The firm’s 50-day moving average is $28.91 and its 200-day moving average is $31.72. Southside Bancshares, Inc. has a 1 year low of $25.30 and a 1 year 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.

Southside Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Thursday, February 20th. Southside Bancshares’s dividend payout ratio (DPR) is presently 49.48%.

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.