Squarepoint Ops LLC Takes Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Squarepoint Ops LLC bought a new position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,891 shares of the bank's stock, valued at approximately $727,000. Squarepoint Ops LLC owned about 0.08% of Southside Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its stake in Southside Bancshares by 867.4% in the 4th quarter. Sterling Capital Management LLC now owns 919 shares of the bank's stock worth $29,000 after purchasing an additional 824 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Southside Bancshares during the fourth quarter valued at about $103,000. Quantbot Technologies LP increased 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 worth $124,000 after purchasing an additional 1,006 shares during the last quarter. Aquatic Capital Management LLC increased its holdings in shares of Southside Bancshares by 39.0% in the fourth quarter. Aquatic Capital Management LLC now owns 5,143 shares of the bank's stock worth $163,000 after purchasing an additional 1,443 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Southside Bancshares in the fourth quarter worth about $178,000. Institutional investors own 55.70% of the company's stock.

Southside Bancshares Price Performance

Shares of SBSI stock traded up $0.47 on Friday, reaching $28.30. The company's stock had a trading volume of 82,600 shares, compared to its average volume of 117,344. The stock's fifty day simple moving average is $28.16 and its 200-day simple moving average is $30.53. Southside Bancshares, Inc. has a 1 year low of $25.30 and a 1 year high of $38.00. The company has a market capitalization of $854.91 million, a price-to-earnings ratio of 9.72 and a beta of 0.66. 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 quarterly earnings data on Tuesday, April 29th. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.67 by $0.04. Southside Bancshares had a net margin of 19.40% and a return on equity of 11.10%. The business had revenue of $100.29 million during the quarter, compared to analyst estimates of $67.37 million. During the same quarter last year, the business earned $0.71 earnings per share. Analysts forecast that Southside Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend was Thursday, May 22nd. Southside Bancshares's payout ratio is 49.48%.

Analyst Upgrades and Downgrades

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

Southside Bancshares 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.