Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Purchased by Jane Street Group LLC

Jane Street Group LLC grew its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 119.5% during the 3rd quarter, Holdings Channel reports. The firm owned 53,571 shares of the bank’s stock after purchasing an additional 29,163 shares during the period. Jane Street Group LLC’s holdings in Southside Bancshares were worth $1,791,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Point72 DIFC Ltd bought a new stake in Southside Bancshares in the third quarter worth about $83,000. Quantbot Technologies LP grew its stake in shares of Southside Bancshares by 190.1% in the 3rd quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock worth $96,000 after purchasing an additional 1,890 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Southside Bancshares by 172.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,176 shares of the bank’s stock worth $106,000 after purchasing an additional 2,011 shares in the last quarter. FMR LLC lifted its stake in Southside Bancshares by 226.9% during the third quarter. FMR LLC now owns 3,432 shares of the bank’s stock valued at $115,000 after purchasing an additional 2,382 shares during the last quarter. Finally, CWM LLC boosted its holdings in Southside Bancshares by 50.8% during the third quarter. CWM LLC now owns 4,673 shares of the bank’s stock worth $156,000 after buying an additional 1,574 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Trading Up 0.9 %

Shares of NASDAQ SBSI opened at $32.29 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.32. Southside Bancshares, Inc. has a 12 month low of $25.30 and a 12 month high of $38.00. The company has a market cap of $978.65 million, a price-to-earnings ratio of 11.66 and a beta of 0.56. The business has a fifty day simple moving average of $34.45 and a 200-day simple moving average of $32.30.

Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Thursday, October 24th. The bank reported $0.68 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.05). Southside Bancshares had a return on equity of 10.64% and a net margin of 18.94%. The firm had revenue of $113.87 million during the quarter, compared to analyst estimates of $68.25 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. Sell-side analysts predict that Southside Bancshares, Inc. will post 2.98 EPS for the current year.

Southside Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Thursday, November 21st. Southside Bancshares’s dividend payout ratio (DPR) is currently 51.99%.

Insider Activity

In other news, insider Suni M. Davis sold 2,220 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $36.00, for a total value of $79,920.00. Following the transaction, the insider now owns 9,202 shares in the company, valued at $331,272. This represents a 19.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lee R. Gibson sold 3,300 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $36.74, for a total transaction of $121,242.00. Following the sale, the chief executive officer now owns 57,272 shares of the company’s stock, valued at approximately $2,104,173.28. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Southside Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th.

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.