Connor Clark & Lunn Investment Management Ltd. Has $1.73 Million Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 54.2% in the fourth quarter, Holdings Channel reports. The firm owned 54,482 shares of the bank’s stock after purchasing an additional 19,141 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Southside Bancshares were worth $1,730,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Southside Bancshares by 0.5% in the third quarter. Geode Capital Management LLC now owns 671,666 shares of the bank’s stock valued at $22,458,000 after buying an additional 3,097 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Southside Bancshares by 79.3% in the third quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank’s stock valued at $12,876,000 after buying an additional 170,287 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Southside Bancshares by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 138,159 shares of the bank’s stock valued at $4,388,000 after buying an additional 4,018 shares during the period. Rhumbline Advisers boosted its holdings in shares of Southside Bancshares by 1.4% in the fourth quarter. Rhumbline Advisers now owns 87,307 shares of the bank’s stock valued at $2,773,000 after buying an additional 1,244 shares during the period. Finally, Empowered Funds LLC boosted its holdings 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 buying an additional 3,763 shares during the period. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Stock Performance

Shares of SBSI stock opened at $29.23 on Wednesday. The company’s fifty day simple moving average is $30.91 and its 200-day simple moving average is $32.71. 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 firm has a market cap of $888.15 million, a PE ratio of 10.04 and a beta of 0.56. Southside Bancshares, Inc. has a 12 month low of $25.30 and a 12 month high of $38.00.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares’s dividend payout ratio is presently 49.48%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SBSI. StockNews.com upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Raymond James started coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They issued a “market perform” rating on the stock. Finally, Stephens cut their price objective 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.

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.