Wells Fargo & Company MN Has $1.64 Million Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Wells Fargo & Company MN grew its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,707 shares of the bank’s stock after buying an additional 4,731 shares during the quarter. Wells Fargo & Company MN owned approximately 0.17% of Southside Bancshares worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Southside Bancshares by 61.1% in the fourth quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock valued at $42,000 after acquiring an additional 507 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of 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 valued at $1,893,000 after purchasing an additional 932 shares during the last quarter. Quantbot Technologies LP boosted its holdings in Southside Bancshares by 34.9% in the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank’s stock worth $124,000 after purchasing an additional 1,006 shares in the last quarter. Rhumbline Advisers increased its position in Southside Bancshares by 1.4% during the fourth quarter. Rhumbline Advisers now owns 87,307 shares of the bank’s stock worth $2,773,000 after buying an additional 1,244 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Southside Bancshares by 0.5% during the third quarter. Geode Capital Management LLC now owns 671,666 shares of the bank’s stock worth $22,458,000 after buying an additional 3,097 shares during the last quarter. Institutional investors own 55.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on SBSI shares. Stephens decreased their price target 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. StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Raymond James assumed coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They issued a “market perform” rating on the stock.

Southside Bancshares Trading Down 1.4 %

Shares of NASDAQ:SBSI opened at $28.27 on Friday. 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 stock’s 50-day moving average is $28.79 and its 200-day moving average is $31.66. The company has a market cap of $859.00 million, a P/E ratio of 9.71 and a beta of 0.58. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00.

Southside Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date was Thursday, February 20th. Southside Bancshares’s dividend payout ratio (DPR) is currently 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.