Hedge Funds Are Betting On Southside Bancshares, Inc. (SBSI)

Southside Bancshares, Inc. (NASDAQ:SBSI) was in 6 hedge funds’ portfolio at the end of March. SBSI investors should be aware of an increase in hedge fund sentiment of late. There were 5 hedge funds in our database with SBSI positions at the end of the previous quarter.

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Now, it’s important to take a gander at the key action surrounding Southside Bancshares, Inc. (NASDAQ:SBSI).

How are hedge funds trading Southside Bancshares, Inc. (NASDAQ:SBSI)?

In preparation for this quarter, a total of 6 of the hedge funds we track were long in this stock, a change of 20% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were increasing their holdings meaningfully.

When looking at the hedgies we track, Renaissance Technologies, managed by Jim Simons, holds the largest position in Southside Bancshares, Inc. (NASDAQ:SBSI). Renaissance Technologies has a $2.8 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is Hutchin Hill Capital, managed by Neil Chriss, which held a $1.2 million position; 0.1% of its 13F portfolio is allocated to the company. Remaining hedgies that are bullish include Israel Englander’s Millennium Management, John Overdeck and David Siegel’s Two Sigma Advisors and D. E. Shaw’s D E Shaw.

Now, key hedge funds were breaking ground themselves. D E Shaw, managed by D. E. Shaw, assembled the largest position in Southside Bancshares, Inc. (NASDAQ:SBSI). D E Shaw had 0.5 million invested in the company at the end of the quarter.

How are insiders trading Southside Bancshares, Inc. (NASDAQ:SBSI)?

Insider trading activity, especially when it’s bullish, is best served when the company in question has experienced transactions within the past 180 days. Over the latest six-month time frame, Southside Bancshares, Inc. (NASDAQ:SBSI) has experienced 4 unique insiders buying, and 2 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Southside Bancshares, Inc. (NASDAQ:SBSI). These stocks are TowneBank (NASDAQ:TOWN), WSFS Financial Corporation (NASDAQ:WSFS), First Community Bancshares Inc (NASDAQ:FCBC), Ameris Bancorp (NASDAQ:ABCB), and Stellarone Corp (NASDAQ:STEL). All of these stocks are in the regional – mid-atlantic banks industry and their market caps match SBSI’s market cap.