State of New Jersey Common Pension Fund D Grows Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

State of New Jersey Common Pension Fund D raised its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,618 shares of the bank’s stock after purchasing an additional 932 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Southside Bancshares were worth $1,893,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Southside Bancshares by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 671,666 shares of the bank’s stock valued at $22,458,000 after purchasing an additional 3,097 shares during the period. JPMorgan Chase & Co. increased its stake in 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 buying an additional 170,287 shares in the last quarter. Rhumbline Advisers raised its holdings in Southside Bancshares by 1.4% during the fourth quarter. Rhumbline Advisers now owns 87,307 shares of the bank’s stock valued at $2,773,000 after acquiring an additional 1,244 shares during the period. Empowered Funds LLC lifted its position in shares of Southside Bancshares by 5.1% in the fourth quarter. Empowered Funds LLC now owns 78,013 shares of the bank’s stock valued at $2,478,000 after acquiring an additional 3,763 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake 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 acquiring an additional 25,350 shares during the period. 55.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Stephens decreased their target price 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. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Raymond James started coverage on shares of Southside Bancshares in a report on Tuesday, January 14th. They set a “market perform” rating for the company.

Southside Bancshares Price Performance

Southside Bancshares stock opened at $30.05 on Tuesday. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00. The company has a market cap of $910.82 million, a price-to-earnings ratio of 10.33 and a beta of 0.57. The firm’s fifty day moving average is $31.65 and its 200 day moving average is $33.05. 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 Dividend Announcement

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 issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Thursday, February 20th. Southside Bancshares’s payout ratio is 49.48%.

Southside Bancshares Company Profile

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.