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 position in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 64.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,096 shares of the bank's stock after acquiring an additional 9,423 shares during the quarter. Trexquant Investment LP owned about 0.08% of Southside Bancshares worth $698,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SBSI. Raymond James Financial Inc. bought a new stake in Southside Bancshares during the fourth quarter valued at approximately $337,000. Price T Rowe Associates Inc. MD lifted its position in Southside Bancshares by 6.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,140 shares of the bank's stock valued at $1,021,000 after purchasing an additional 1,874 shares during the last quarter. Northern Trust Corp lifted its position in Southside Bancshares by 5.8% during the fourth quarter. Northern Trust Corp now owns 318,699 shares of the bank's stock valued at $10,122,000 after purchasing an additional 17,564 shares during the last quarter. Comerica Bank lifted its position in Southside Bancshares by 50.3% during the fourth quarter. Comerica Bank now owns 18,078 shares of the bank's stock valued at $574,000 after purchasing an additional 6,054 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in Southside Bancshares by 13.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 41,831 shares of the bank's stock valued at $1,329,000 after purchasing an additional 5,078 shares during the last quarter. 55.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their target price on shares of Southside Bancshares from $32.00 to $33.00 and gave the company a "market perform" rating in a research 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 price target of $35.00.

Southside Bancshares Trading Down 1.3%

Shares of SBSI opened at $30.98 on Monday. The firm has a market cap of $931.73 million, a price-to-earnings ratio of 10.64 and a beta of 0.70. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 0.76. Southside Bancshares, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $38.00. The firm has a 50 day moving average price of $30.42 and a 200-day moving average price of $29.27.

Southside Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Thursday, August 21st. Southside Bancshares's payout ratio is presently 51.06%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.