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.
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.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| TowneBank (NASDAQ:TOWN) | 1 | 0 | 0 |
| WSFS Financial Corporation (NASDAQ:WSFS) | 9 | 0 | 4 |
| First Community Bancshares Inc (NASDAQ:FCBC) | 5 | 0 | 0 |
| Ameris Bancorp (NASDAQ:ABCB) | 6 | 1 | 1 |
| Stellarone Corp (NASDAQ:STEL) | 4 | 0 | 0 |
With the returns demonstrated by the aforementioned strategies, everyday investors should always pay attention to hedge fund and insider trading sentiment, and Southside Bancshares, Inc. (NASDAQ:SBSI) is no exception.
