Magnetar Financial LLC Invests $218,000 in Southside Bancshares, Inc. (NASDAQ:SBSI)

Magnetar Financial LLC acquired a new stake in Southside Bancshares, Inc. (NASDAQ:SBSI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,849 shares of the bank’s stock, valued at approximately $218,000.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Southside Bancshares by 61.1% during the fourth quarter. GAMMA Investing LLC now owns 1,337 shares of the bank’s stock worth $42,000 after purchasing an additional 507 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Southside Bancshares in the third quarter valued at approximately $83,000. Quantbot Technologies LP increased its stake in Southside Bancshares by 190.1% during the 3rd quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock worth $96,000 after buying an additional 1,890 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Southside Bancshares by 172.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,176 shares of the bank’s stock worth $106,000 after buying an additional 2,011 shares in the last quarter. Finally, FMR LLC boosted its position in Southside Bancshares by 226.9% in the 3rd quarter. FMR LLC now owns 3,432 shares of the bank’s stock valued at $115,000 after buying an additional 2,382 shares during the period. Institutional investors and hedge funds own 55.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBSI. Stephens cut their price objective on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Raymond James started coverage on Southside Bancshares in a report on Tuesday, January 14th. They set a “market perform” rating on the stock. Finally, StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st.

Southside Bancshares Trading Up 0.2 %

Shares of NASDAQ:SBSI opened at $29.24 on Monday. The company has a market cap of $888.57 million, a PE ratio of 10.05 and a beta of 0.56. The company’s 50 day moving average is $30.84 and its two-hundred day moving average is $32.61. Southside Bancshares, Inc. has a 52 week low of $25.30 and a 52 week high of $38.00. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Thursday, February 20th. Southside Bancshares’s dividend payout ratio is presently 49.48%.

Southside Bancshares Profile

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.