Schwab Charles Investment Management Inc. grew its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,561 shares of the bank’s stock after buying an additional 6,911 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Southside Bancshares were worth $4,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC raised its position in shares of Southside Bancshares by 111.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 3,799 shares of the bank’s stock valued at $138,000 after buying an additional 2,002 shares in the last quarter. Bbva Compass Bancshares Inc. purchased a new stake in shares of Southside Bancshares during the 3rd quarter valued at about $204,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Southside Bancshares during the 2nd quarter valued at about $205,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Southside Bancshares by 2.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,433 shares of the bank’s stock valued at $225,000 after buying an additional 158 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Southside Bancshares during the 3rd quarter valued at about $255,000. Hedge funds and other institutional investors own 43.21% of the company’s stock.

SBSI has been the topic of several recent research reports. ValuEngine upgraded shares of Southside Bancshares from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. BidaskClub upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Zacks Investment Research upgraded shares of Southside Bancshares from a “strong sell” rating to a “hold” rating and set a $38.00 target price on the stock in a research report on Saturday, January 6th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $37.00 price objective on shares of Southside Bancshares in a research report on Tuesday, October 3rd. Finally, Piper Jaffray Companies assumed coverage on shares of Southside Bancshares in a research report on Friday, September 22nd. They issued a “neutral” rating and a $37.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.33.

In other news, Director Michael J. Bosworth sold 4,512 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $33.94, for a total transaction of $153,137.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter M. Boyd sold 750 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $35.19, for a total transaction of $26,392.50. Following the transaction, the executive vice president now directly owns 3,563 shares in the company, valued at $125,381.97. The disclosure for this sale can be found here. Corporate insiders own 17.20% of the company’s stock.

Shares of Southside Bancshares, Inc. (SBSI) opened at $35.05 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.62 and a quick ratio of 0.62. Southside Bancshares, Inc. has a 1 year low of $31.20 and a 1 year high of $37.97. The firm has a market cap of $1,030.00, a PE ratio of 18.35 and a beta of 0.76.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Friday, October 27th. The bank reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.05). Southside Bancshares had a return on equity of 10.32% and a net margin of 25.70%. The firm had revenue of $44.37 million during the quarter, compared to analysts’ expectations of $51.00 million. equities research analysts predict that Southside Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

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Southside Bancshares Company Profile

Southside Bancshares, Inc (Southside) is a bank holding company for Southside Bank (the Bank). The Company is a community-focused financial institution that offers a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations in the communities. These services include consumer and commercial loans, deposit accounts, trust services, safe deposit services and brokerage services.

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Institutional Ownership by Quarter for Southside Bancshares (NASDAQ:SBSI)

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