Squarepoint Ops LLC Buys Shares of 22,891 Southside Bancshares, Inc. (NASDAQ:SBSI)

Squarepoint Ops LLC purchased a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 22,891 shares of the bank's stock, valued at approximately $727,000. Squarepoint Ops LLC owned 0.08% of Southside Bancshares at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Southside Bancshares by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,348 shares of the bank's stock valued at $519,000 after purchasing an additional 571 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Southside Bancshares by 867.4% during the fourth quarter. Sterling Capital Management LLC now owns 919 shares of the bank's stock worth $29,000 after purchasing an additional 824 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Southside Bancshares by 1.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 59,618 shares of the bank's stock valued at $1,893,000 after buying an additional 932 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Southside Bancshares by 34.9% in the fourth quarter. Quantbot Technologies LP now owns 3,890 shares of the bank's stock valued at $124,000 after buying an additional 1,006 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Southside Bancshares by 6.4% in the fourth quarter. MetLife Investment Management LLC now owns 17,279 shares of the bank's stock valued at $549,000 after buying an additional 1,042 shares during the last quarter. Institutional investors own 55.70% of the company's stock.

Southside Bancshares Trading Down 0.7%

Shares of SBSI traded down $0.19 during trading hours on Wednesday, hitting $27.85. 106,281 shares of the stock traded hands, compared to its average volume of 116,955. The business has a fifty day moving average of $28.22 and a 200-day moving average of $30.65. The firm has a market capitalization of $841.46 million, a PE ratio of 9.57 and a beta of 0.65. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-year high of $38.00. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares (NASDAQ:SBSI - Get Free Report) last released its earnings results on Tuesday, April 29th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.04. Southside Bancshares had a net margin of 19.40% and a return on equity of 11.10%. The company had revenue of $100.29 million for the quarter, compared to the consensus estimate of $67.37 million. During the same period in the prior year, the company posted $0.71 EPS. Analysts expect that Southside Bancshares, Inc. will post 2.84 EPS for the current year.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Thursday, May 22nd. Southside Bancshares's dividend payout ratio is presently 49.48%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a report on Friday, May 9th.

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.