Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 538,985 shares of the bank's stock after acquiring an additional 20,800 shares during the quarter. Renaissance Technologies LLC owned about 1.78% of Southside Bancshares worth $17,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SBSI. GAMMA Investing LLC increased its stake in Southside Bancshares by 61.1% in the fourth quarter. GAMMA Investing LLC now owns 1,337 shares of the bank's stock valued at $42,000 after purchasing an additional 507 shares during the last quarter. FMR LLC grew its position in shares of Southside Bancshares by 226.9% in the 3rd quarter. FMR LLC now owns 3,432 shares of the bank's stock valued at $115,000 after buying an additional 2,382 shares during the last quarter. Quantbot Technologies LP raised its stake in Southside Bancshares by 34.9% during the 4th quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock worth $124,000 after acquiring an additional 1,006 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Southside Bancshares in the fourth quarter valued at $178,000. Finally, Magnetar Financial LLC acquired a new position in Southside Bancshares in the fourth quarter valued at $218,000. Institutional investors and hedge funds own 55.70% of the company's stock.

Southside Bancshares Stock Performance

Shares of NASDAQ SBSI traded up $0.20 during midday trading on Friday, reaching $27.59. 123,325 shares of the company were exchanged, compared to its average volume of 115,682. The stock has a fifty day simple moving average of $29.11 and a 200 day simple moving average of $31.80. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. The stock has a market cap of $838.52 million, a P/E ratio of 9.48 and a beta of 0.58. Southside Bancshares, Inc. has a 1 year low of $25.30 and a 1 year high of $38.00.

Southside Bancshares Announces Dividend

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 5.22%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares's dividend payout ratio (DPR) is presently 49.48%.

Analyst Upgrades and Downgrades

SBSI has been the topic of a number of research analyst reports. StockNews.com upgraded Southside Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Stephens cut their price target on 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. Finally, Raymond James initiated coverage on Southside Bancshares in a report on Tuesday, January 14th. They issued a "market perform" rating for the company.

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.