AQR Capital Management LLC Grows Position in Southside Bancshares, Inc. (NASDAQ:SBSI)

AQR Capital Management LLC lifted its position in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 95.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 238,087 shares of the bank’s stock after purchasing an additional 116,473 shares during the quarter. AQR Capital Management LLC’s holdings in Southside Bancshares were worth $6,574,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Renaissance Technologies LLC lifted its position in Southside Bancshares by 6.8% during the second quarter. Renaissance Technologies LLC now owns 603,285 shares of the bank’s stock valued at $16,657,000 after buying an additional 38,500 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Southside Bancshares by 0.9% during the 1st quarter. ProShare Advisors LLC now owns 266,202 shares of the bank’s stock valued at $7,781,000 after acquiring an additional 2,456 shares in the last quarter. American Century Companies Inc. boosted its position in Southside Bancshares by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 168,450 shares of the bank’s stock worth $4,651,000 after purchasing an additional 1,984 shares during the period. Empowered Funds LLC increased its holdings in Southside Bancshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 65,458 shares of the bank’s stock valued at $1,913,000 after purchasing an additional 4,900 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in Southside Bancshares by 6.3% in the second quarter. Public Sector Pension Investment Board now owns 63,273 shares of the bank’s stock valued at $1,747,000 after purchasing an additional 3,736 shares during the period. Institutional investors and hedge funds own 55.70% of the company’s stock.

Southside Bancshares Stock Performance

Southside Bancshares stock opened at $31.99 on Friday. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-month high of $36.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $968.34 million, a price-to-earnings ratio of 11.89 and a beta of 0.54. The firm’s fifty day moving average price is $33.10 and its 200 day moving average price is $29.53.

Southside Bancshares (NASDAQ:SBSI) last announced its earnings results on Thursday, July 25th. The bank reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.17. Southside Bancshares had a return on equity of 10.64% and a net margin of 18.90%. The business had revenue of $115.74 million for the quarter, compared to analyst estimates of $64.91 million. During the same period in the previous year, the company earned $0.82 earnings per share. On average, research analysts forecast that Southside Bancshares, Inc. will post 2.96 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend was Thursday, August 22nd. Southside Bancshares’s payout ratio is 53.53%.

Insider Buying and Selling at Southside Bancshares

In other news, insider T L. Arnold, Jr. sold 3,999 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $31.63, for a total transaction of $126,488.37. Following the completion of the sale, the insider now owns 16,441 shares of the company’s stock, valued at $520,028.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Southside Bancshares news, insider T L. Arnold, Jr. sold 3,999 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $31.63, for a total transaction of $126,488.37. Following the transaction, the insider now directly owns 16,441 shares in the company, valued at approximately $520,028.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider T L. Arnold, Jr. sold 4,667 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $33.71, for a total transaction of $157,324.57. Following the completion of the sale, the insider now directly owns 16,441 shares of the company’s stock, valued at approximately $554,226.11. The disclosure for this sale can be found here. Insiders have sold a total of 14,890 shares of company stock valued at $500,319 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SBSI has been the subject of several analyst reports. StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Hovde Group upped their price target on Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

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.