Jane Street Group LLC Acquires 29,163 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Jane Street Group LLC increased its stake in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 119.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,571 shares of the bank's stock after buying an additional 29,163 shares during the quarter. Jane Street Group LLC owned approximately 0.18% of Southside Bancshares worth $1,791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SBSI. Point72 DIFC Ltd acquired a new position in shares of Southside Bancshares in the third quarter valued at about $83,000. Quantbot Technologies LP boosted its holdings in Southside Bancshares by 190.1% in the third quarter. Quantbot Technologies LP now owns 2,884 shares of the bank's stock valued at $96,000 after acquiring an additional 1,890 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Southside Bancshares by 172.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,176 shares of the bank's stock valued at $106,000 after buying an additional 2,011 shares during the period. FMR LLC grew its position in shares of Southside Bancshares by 226.9% during the 3rd quarter. FMR LLC now owns 3,432 shares of the bank's stock worth $115,000 after buying an additional 2,382 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in Southside Bancshares by 48.3% in the second quarter. Point72 Asset Management L.P. now owns 5,043 shares of the bank's stock worth $139,000 after purchasing an additional 1,643 shares during the period. 55.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Southside Bancshares from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th.

Southside Bancshares Price Performance

Southside Bancshares stock remained flat at $32.29 during midday trading on Thursday. 57,214 shares of the company traded hands, compared to its average volume of 118,776. The stock's 50-day simple moving average is $34.40 and its 200-day simple moving average is $32.30. The company has a market capitalization of $978.65 million, a PE ratio of 11.66 and a beta of 0.56. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-year high of $38.00. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.32.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.05). Southside Bancshares had a net margin of 18.94% and a return on equity of 10.64%. The company had revenue of $113.87 million for the quarter, compared to the consensus estimate of $68.25 million. During the same quarter in the previous year, the company posted $0.60 EPS. On average, sell-side analysts predict that Southside Bancshares, Inc. will post 2.98 earnings per share for the current fiscal year.

Southside Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were given a dividend of $0.36 per share. The ex-dividend date was Thursday, November 21st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.46%. Southside Bancshares's dividend payout ratio is presently 51.99%.

Insider Transactions at Southside Bancshares

In other Southside Bancshares news, CEO Lee R. Gibson sold 3,300 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $36.74, for a total value of $121,242.00. Following the sale, the chief executive officer now directly owns 57,272 shares in the company, valued at $2,104,173.28. This represents a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Suni M. Davis sold 2,220 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total transaction of $79,920.00. Following the completion of the transaction, the insider now directly owns 9,202 shares of the company's stock, valued at approximately $331,272. This represents a 19.44 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

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.