Southside Bancshares, Inc. (NASDAQ:SBSI) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 292,728 shares of the bank’s stock after selling 32,871 shares during the period. Charles Schwab Investment Management Inc. owned 0.97% of Southside Bancshares worth $9,297,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SBSI. Thrivent Financial for Lutherans lifted its stake in shares of Southside Bancshares by 73.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 59,801 shares of the bank’s stock valued at $1,999,000 after purchasing an additional 25,350 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Southside Bancshares by 179.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,341 shares of the bank’s stock valued at $1,181,000 after purchasing an additional 22,687 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Southside Bancshares in the 3rd quarter valued at $233,000. Quantbot Technologies LP lifted its stake in shares of Southside Bancshares by 190.1% in the 3rd quarter. Quantbot Technologies LP now owns 2,884 shares of the bank’s stock valued at $96,000 after purchasing an additional 1,890 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of 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 purchasing an additional 2,382 shares during the last quarter. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

Southside Bancshares Price Performance

SBSI stock opened at $29.24 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $888.57 million, a PE ratio of 10.05 and a beta of 0.56. Southside Bancshares, Inc. has a 12-month low of $25.30 and a 12-month high of $38.00. The business’s fifty day moving average price is $30.84 and its 200 day moving average price is $32.62.

Southside Bancshares Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on SBSI. Stephens decreased their price target on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Raymond James assumed coverage on Southside Bancshares in a research note on Tuesday, January 14th. They issued a “market perform” rating on the stock.

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.