Trexquant Investment LP Purchases 9,423 Shares of Southside Bancshares, Inc. $SBSI

Key Points

• Trexquant Investment LP boosted its holdings in Southside Bancshares by 64.2%, acquiring an additional 9,423 shares for a total of 24,096 shares valued at approximately $698,000.
• Institutional investors currently own 55.70% of Southside Bancshares stock, with several large firms, including Raymond James Financial and Price T Rowe Associates, recently increasing their stakes.
• Southside Bancshares announced a quarterly dividend of $0.36 per share, resulting in an annualized dividend of $1.44, marking a dividend yield of 4.6%.

Trexquant Investment LP increased its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 64.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 24,096 shares of the bank's stock after acquiring an additional 9,423 shares during the period. Trexquant Investment LP owned 0.08% of Southside Bancshares worth $698,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Southside Bancshares by 2,583.7% during the 1st quarter. GAMMA Investing LLC now owns 35,881 shares of the bank's stock valued at $1,039,000 after acquiring an additional 34,544 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Southside Bancshares by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 141,885 shares of the bank's stock valued at $4,109,000 after buying an additional 3,726 shares during the last quarter. Deutsche Bank AG grew its holdings in Southside Bancshares by 53.9% in the 4th quarter. Deutsche Bank AG now owns 27,043 shares of the bank's stock valued at $859,000 after buying an additional 9,466 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Southside Bancshares by 15.7% in the 1st quarter. New York State Teachers Retirement System now owns 9,182 shares of the bank's stock valued at $266,000 after buying an additional 1,244 shares during the last quarter. Finally, Royce & Associates LP acquired a new stake in Southside Bancshares in the 1st quarter valued at approximately $424,000. Institutional investors and hedge funds own 55.70% of the company's stock.

Southside Bancshares Stock Performance

Shares of SBSI stock traded down $0.36 during mid-day trading on Friday, reaching $30.45. The stock had a trading volume of 72,599 shares, compared to its average volume of 116,084. The firm's 50 day simple moving average is $30.42 and its 200 day simple moving average is $29.29. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. Southside Bancshares, Inc. has a one year low of $25.85 and a one year high of $38.00. The firm has a market cap of $915.94 million, a PE ratio of 10.46 and a beta of 0.70.

Southside Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a $0.36 dividend. The ex-dividend date was Thursday, August 21st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.7%. Southside Bancshares's dividend payout ratio (DPR) is currently 51.06%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their target price on Southside Bancshares from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Southside Bancshares presently has a consensus rating of "Hold" and a consensus target price of $35.00.

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.