Prudential Financial Inc. Has $1.12 Million Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Prudential Financial Inc. reduced its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 3.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,111 shares of the bank’s stock after selling 1,100 shares during the period. Prudential Financial Inc.’s holdings in Southside Bancshares were worth $1,115,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SBSI. GAMMA Investing LLC increased its holdings in shares of Southside Bancshares by 61.1% during 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 in the last quarter. Point72 DIFC Ltd acquired a new position in Southside Bancshares during the third quarter worth $83,000. FMR LLC lifted its stake in shares of Southside Bancshares by 226.9% in the third quarter. FMR LLC now owns 3,432 shares of the bank’s stock valued at $115,000 after buying an additional 2,382 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Southside Bancshares by 34.9% during the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank’s stock valued at $124,000 after buying an additional 1,006 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Southside Bancshares during the fourth quarter worth about $178,000. 55.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBSI has been the subject of a number of analyst reports. StockNews.com upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James assumed coverage on Southside Bancshares in a research report on Tuesday, January 14th. They set a “market perform” rating on the stock. Finally, Stephens dropped their price objective on 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.

Southside Bancshares Price Performance

Shares of NASDAQ SBSI opened at $26.87 on Monday. 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 company has a market capitalization of $816.70 million, a PE ratio of 9.24 and a beta of 0.58. The stock’s 50 day moving average price is $30.25 and its 200-day moving average price is $32.30. 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 disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were paid a $0.36 dividend. The ex-dividend date was Thursday, February 20th. This represents a $1.44 dividend on an annualized basis and a yield of 5.36%. 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.