Empowered Funds LLC Has $2.48 Million Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Empowered Funds LLC lifted its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,013 shares of the bank’s stock after purchasing an additional 3,763 shares during the quarter. Empowered Funds LLC owned 0.26% of Southside Bancshares worth $2,478,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SBSI. The Manufacturers Life Insurance Company raised its position in shares of Southside Bancshares by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,371 shares of the bank’s stock worth $314,000 after purchasing an additional 570 shares during the period. SG Americas Securities LLC bought a new position in shares of Southside Bancshares during the third quarter worth about $285,000. CWM LLC grew its holdings in shares of Southside Bancshares by 50.8% during the third quarter. CWM LLC now owns 4,673 shares of the bank’s stock worth $156,000 after buying an additional 1,574 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of Southside Bancshares during the third quarter worth about $255,000. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Southside Bancshares by 73.6% during the third quarter. Thrivent Financial for Lutherans now owns 59,801 shares of the bank’s stock worth $1,999,000 after buying an additional 25,350 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Stock Down 1.1 %

SBSI stock opened at $31.31 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 business has a 50 day moving average price of $32.17 and a two-hundred day moving average price of $33.13. The company has a market cap of $949.01 million, a price-to-earnings ratio of 10.76 and a beta of 0.57. Southside Bancshares, Inc. has a twelve month low of $25.30 and a twelve month high of $38.00.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.44 annualized dividend and a dividend yield of 4.60%. Southside Bancshares’s dividend payout ratio is currently 49.48%.

Analyst Ratings Changes

SBSI has been the subject of a number of research reports. Raymond James initiated coverage on Southside Bancshares in a report on Tuesday, January 14th. They set a “market perform” rating for the company. StockNews.com upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, 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.

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.