Quadrature Capital Ltd Takes $290,000 Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

Quadrature Capital Ltd bought a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,206 shares of the bank’s stock, valued at approximately $290,000.

Other large investors also recently modified their holdings of the company. Millennium Management LLC increased its position in shares of Southside Bancshares by 545.9% during the second quarter. Millennium Management LLC now owns 301,531 shares of the bank’s stock valued at $11,283,000 after acquiring an additional 254,850 shares during the last quarter. Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Southside Bancshares during the third quarter valued at approximately $6,359,000. Citadel Advisors LLC increased its position in shares of Southside Bancshares by 776.7% during the third quarter. Citadel Advisors LLC now owns 139,572 shares of the bank’s stock valued at $4,936,000 after acquiring an additional 123,651 shares during the last quarter. BlackRock Inc. increased its position in shares of Southside Bancshares by 1.9% during the first quarter. BlackRock Inc. now owns 4,758,431 shares of the bank’s stock valued at $194,286,000 after acquiring an additional 88,082 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Southside Bancshares during the third quarter valued at approximately $2,208,000. Institutional investors own 53.13% of the company’s stock.

Analysts Set New Price Targets

SBSI has been the subject of a number of research analyst reports. Stephens increased their price target on Southside Bancshares from $36.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, January 30th. StockNews.com downgraded Southside Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, February 21st.

Southside Bancshares Stock Performance

NASDAQ:SBSI opened at $32.62 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.66 and a quick ratio of 0.66. The business has a fifty day simple moving average of $37.28 and a two-hundred day simple moving average of $36.47. Southside Bancshares, Inc. has a 1 year low of $31.18 and a 1 year high of $42.93. The company has a market capitalization of $1.02 billion, a P/E ratio of 9.98 and a beta of 0.55.

Southside Bancshares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Thursday, February 16th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Wednesday, February 15th. Southside Bancshares’s dividend payout ratio (DPR) is presently 42.81%.

Southside Bancshares Profile

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Southside Bancshares, Inc is a bank holding company, which engages in the provision of financial services to individuals, businesses, municipal entities, and non-profit organizations. It offers checking, saving and retirement accounts, certificate of deposits, debit, credit cards, mobile banking, loans, mortgage and equity lending, identity theft prevention, electronic banking, healthcare banking, and business loans.