Renaissance Technologies LLC Has $17.12 Million Stake in Southside Bancshares, Inc. (NASDAQ:SBSI)

Renaissance Technologies LLC raised its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 538,985 shares of the bank’s stock after purchasing an additional 20,800 shares during the period. Renaissance Technologies LLC owned 1.78% of Southside Bancshares worth $17,118,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Southside Bancshares by 79.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank’s stock worth $12,876,000 after acquiring an additional 170,287 shares during the period. Barclays PLC lifted its position in shares of Southside Bancshares by 137.6% during the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank’s stock worth $1,981,000 after purchasing an additional 34,316 shares during the last quarter. Geode Capital Management LLC boosted its stake in Southside Bancshares by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 671,666 shares of the bank’s stock valued at $22,458,000 after purchasing an additional 3,097 shares during the period. Jane Street Group LLC grew its holdings in Southside Bancshares by 119.5% in the 3rd quarter. Jane Street Group LLC now owns 53,571 shares of the bank’s stock valued at $1,791,000 after buying an additional 29,163 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in Southside Bancshares by 34.9% in the 4th quarter. Quantbot Technologies LP now owns 3,890 shares of the bank’s stock worth $124,000 after buying an additional 1,006 shares during the period. Institutional investors own 55.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SBSI shares. Stephens lowered their price objective on shares of Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Raymond James started coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They set a “market perform” rating for the company. Finally, StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday.

Southside Bancshares Price Performance

NASDAQ:SBSI opened at $26.92 on Tuesday. The company has a market capitalization of $818.10 million, a price-to-earnings ratio of 9.25 and a beta of 0.58. The company has a 50-day moving average of $29.46 and a 200-day moving average of $31.94. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $38.00. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were issued a $0.36 dividend. The ex-dividend date was Thursday, February 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.35%. Southside Bancshares’s payout ratio is presently 49.48%.

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.