Renaissance Technologies LLC Grows Stock Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Renaissance Technologies LLC lifted its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 603,285 shares of the bank’s stock after buying an additional 38,500 shares during the quarter. Renaissance Technologies LLC owned approximately 1.99% of Southside Bancshares worth $16,657,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in Southside Bancshares by 54.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,099 shares of the bank’s stock valued at $30,000 after acquiring an additional 387 shares in the last quarter. CWM LLC grew its holdings in shares of Southside Bancshares by 447.5% in the second quarter. CWM LLC now owns 3,099 shares of the bank’s stock valued at $86,000 after purchasing an additional 2,533 shares in the last quarter. EntryPoint Capital LLC increased its stake in Southside Bancshares by 57.0% during the 1st quarter. EntryPoint Capital LLC now owns 3,293 shares of the bank’s stock worth $96,000 after buying an additional 1,195 shares during the period. Commerce Bank purchased a new stake in Southside Bancshares during the 4th quarter worth approximately $202,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Southside Bancshares during the 1st quarter worth approximately $233,000. Institutional investors and hedge funds own 55.70% of the company’s stock.

Insider Transactions at Southside Bancshares

In related news, CFO Julie Shamburger sold 5,360 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $35.03, for a total value of $187,760.80. Following the completion of the transaction, the chief financial officer now directly owns 24,327 shares of the company’s stock, valued at $852,174.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jared C. Green sold 864 shares of Southside Bancshares stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $33.27, for a total transaction of $28,745.28. Following the sale, the insider now directly owns 4,358 shares in the company, valued at approximately $144,990.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Julie Shamburger sold 5,360 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total transaction of $187,760.80. Following the completion of the transaction, the chief financial officer now owns 24,327 shares of the company’s stock, valued at approximately $852,174.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,890 shares of company stock valued at $500,319. Corporate insiders own 5.90% of the company’s stock.

Southside Bancshares Stock Down 2.9 %

Shares of Southside Bancshares stock opened at $34.00 on Friday. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $36.10. The company has a 50 day moving average of $32.82 and a 200 day moving average of $29.27. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.03 billion, a P/E ratio of 12.64 and a beta of 0.54.

Southside Bancshares (NASDAQ:SBSI) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.17. The business had revenue of $115.74 million during the quarter, compared to analysts’ expectations of $64.91 million. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. During the same period in the previous year, the company earned $0.82 EPS. As a group, research analysts forecast that Southside Bancshares, Inc. will post 2.96 EPS for the current fiscal year.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.24%. Southside Bancshares’s payout ratio is currently 53.53%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBSI. StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Hovde Group increased their price target on Southside Bancshares from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

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.