Rahlfs Capital LLC Buys New Stake in Southside Bancshares, Inc. (NASDAQ:SBSI)

Rahlfs Capital LLC purchased a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,423 shares of the bank’s stock, valued at approximately $331,000.

Other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its position in shares of Southside Bancshares by 10.1% during the 4th quarter. Wells Fargo & Company MN now owns 51,707 shares of the bank’s stock worth $1,642,000 after buying an additional 4,731 shares during the last quarter. Cornercap Investment Counsel Inc. raised its stake in Southside Bancshares by 88.7% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 14,404 shares of the bank’s stock worth $457,000 after acquiring an additional 6,772 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Southside Bancshares by 32.9% in the fourth quarter. JPMorgan Chase & Co. now owns 511,741 shares of the bank’s stock valued at $16,253,000 after acquiring an additional 126,587 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Southside Bancshares in the fourth quarter valued at $178,000. Finally, American Century Companies Inc. boosted its stake in Southside Bancshares by 4.6% in the fourth quarter. American Century Companies Inc. now owns 282,254 shares of the bank’s stock valued at $8,964,000 after acquiring an additional 12,345 shares in the last quarter. 55.70% of the stock is owned by hedge funds and other institutional investors.

Southside Bancshares Stock Performance

Shares of SBSI stock opened at $26.87 on Friday. The stock’s 50-day moving average price is $30.25 and its 200 day moving average price is $32.33. 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 stock has a market capitalization of $816.70 million, a PE ratio of 9.24 and a beta of 0.56. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00.

Southside Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.36%. The ex-dividend date was Thursday, February 20th. Southside Bancshares’s dividend payout ratio (DPR) is presently 49.48%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Raymond James started coverage on Southside Bancshares in a report on Tuesday, January 14th. They issued a “market perform” rating for the company. StockNews.com upgraded Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Stephens lowered their target price on shares of Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th.

Southside Bancshares 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.