Citadel Advisors LLC Has $1.77 Million Position in Southside Bancshares, Inc. (SBSI)

Citadel Advisors LLC boosted its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,647 shares of the bank’s stock after acquiring an additional 3,315 shares during the quarter. Citadel Advisors LLC owned 0.17% of Southside Bancshares worth $1,769,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Southside Bancshares by 0.5% during the 2nd quarter. BlackRock Inc. now owns 3,348,158 shares of the bank’s stock valued at $116,987,000 after purchasing an additional 15,123 shares during the period. Vanguard Group Inc. increased its position in shares of Southside Bancshares by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,727,918 shares of the bank’s stock valued at $60,373,000 after purchasing an additional 100,282 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Southside Bancshares by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,298,766 shares of the bank’s stock valued at $45,379,000 after purchasing an additional 82,423 shares during the period. Bank of New York Mellon Corp increased its position in shares of Southside Bancshares by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 567,996 shares of the bank’s stock valued at $19,846,000 after purchasing an additional 23,654 shares during the period. Finally, Northern Trust Corp increased its position in shares of Southside Bancshares by 4.5% during the 2nd quarter. Northern Trust Corp now owns 539,046 shares of the bank’s stock valued at $18,834,000 after purchasing an additional 23,090 shares during the period. Institutional investors own 51.44% of the company’s stock.

Southside Bancshares, Inc. (SBSI) opened at $35.16 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1,065.20, a price-to-earnings ratio of 18.98 and a beta of 0.76. Southside Bancshares, Inc. has a 1-year low of $31.20 and a 1-year high of $38.83.

Southside Bancshares (NASDAQ:SBSI) last issued its earnings results on Friday, October 27th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.05). The company had revenue of $44.37 million during the quarter, compared to analyst estimates of $51.00 million. Southside Bancshares had a return on equity of 10.32% and a net margin of 25.70%. analysts anticipate that Southside Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Thursday, November 16th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Wednesday, November 15th. Southside Bancshares’s payout ratio is 58.74%.

Several brokerages have recently issued reports on SBSI. ValuEngine upgraded Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Monday. Piper Jaffray Companies began coverage on Southside Bancshares in a research report on Friday, September 22nd. They set a “neutral” rating and a $37.00 price target on the stock. BidaskClub cut Southside Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $37.00 price target on shares of Southside Bancshares in a research report on Tuesday, October 3rd. Finally, Zacks Investment Research cut Southside Bancshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Southside Bancshares presently has an average rating of “Hold” and an average target price of $37.00.

In related news, COO Brian K. Mccabe sold 1,500 shares of Southside Bancshares stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $33.00, for a total value of $49,500.00. Following the transaction, the chief operating officer now directly owns 16,658 shares in the company, valued at approximately $549,714. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Bosworth sold 4,512 shares of Southside Bancshares stock in a transaction on Monday, November 20th. The stock was sold at an average price of $33.94, for a total value of $153,137.28. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.

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Southside Bancshares Profile

Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.

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Institutional Ownership by Quarter for Southside Bancshares (NASDAQ:SBSI)

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