Connor Clark & Lunn Investment Management Ltd. Purchases 19,141 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Connor Clark & Lunn Investment Management Ltd. grew its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 54.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,482 shares of the bank’s stock after acquiring an additional 19,141 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.18% of Southside Bancshares worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Southside Bancshares by 61.1% in the fourth quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock worth $42,000 after acquiring an additional 507 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Southside Bancshares in the third quarter worth about $83,000. Quantbot Technologies LP raised its stake in shares of Southside Bancshares by 190.1% in the third quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock worth $96,000 after acquiring an additional 1,890 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Southside Bancshares by 172.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,176 shares of the bank’s stock worth $106,000 after acquiring an additional 2,011 shares during the last quarter. Finally, FMR LLC raised 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 worth $115,000 after acquiring an additional 2,382 shares during the last quarter. 55.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on SBSI. StockNews.com raised shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James initiated coverage on shares of Southside Bancshares in a research note on Tuesday, January 14th. They set a “market perform” rating for the company. Finally, Stephens dropped their price target on shares of 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.

Southside Bancshares Trading Down 0.3 %

SBSI opened at $29.23 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $888.15 million, a price-to-earnings ratio of 10.04 and a beta of 0.56. The firm has a 50 day simple moving average of $30.91 and a 200 day simple moving average of $32.71. Southside Bancshares, Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $38.00.

Southside Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares’s dividend payout ratio is currently 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.