Sanctuary Advisors LLC Lowers Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Sanctuary Advisors LLC lessened its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 25.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,621 shares of the bank’s stock after selling 3,586 shares during the quarter. Sanctuary Advisors LLC’s holdings in Southside Bancshares were worth $334,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SBSI. Cornercap Investment Counsel Inc. purchased a new position in shares of Southside Bancshares in the third quarter worth $255,000. Empowered Funds LLC lifted its holdings in shares of Southside Bancshares by 5.3% in the third quarter. Empowered Funds LLC now owns 74,250 shares of the bank’s stock worth $2,482,000 after buying an additional 3,752 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Southside Bancshares by 73.6% in 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. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Southside Bancshares by 179.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,341 shares of the bank’s stock worth $1,181,000 after buying an additional 22,687 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Southside Bancshares in the third quarter worth $233,000. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Southside Bancshares Price Performance

Southside Bancshares stock opened at $30.64 on Tuesday. The company has a market cap of $928.64 million, a price-to-earnings ratio of 10.53 and a beta of 0.57. The firm’s fifty day moving average is $31.45 and its 200 day moving average is $33.02. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 20th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Thursday, February 20th. Southside Bancshares’s payout ratio is 49.48%.

Analyst Upgrades and Downgrades

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