Charles Schwab Investment Management Inc. Cuts Holdings in Southside Bancshares, Inc. (NASDAQ:SBSI)

Charles Schwab Investment Management Inc. decreased its stake in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 10.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 292,728 shares of the bank’s stock after selling 32,871 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Southside Bancshares were worth $9,297,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Southside Bancshares by 79.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 385,154 shares of the bank’s stock worth $12,876,000 after purchasing an additional 170,287 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Southside Bancshares by 73.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 59,801 shares of the bank’s stock worth $1,999,000 after acquiring an additional 25,350 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Southside Bancshares by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 671,666 shares of the bank’s stock worth $22,458,000 after acquiring an additional 3,097 shares in the last quarter. Barclays PLC boosted its position in shares of Southside Bancshares by 137.6% during the 3rd quarter. Barclays PLC now owns 59,263 shares of the bank’s stock worth $1,981,000 after acquiring an additional 34,316 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Southside Bancshares by 119.5% during the 3rd quarter. Jane Street Group LLC now owns 53,571 shares of the bank’s stock worth $1,791,000 after acquiring an additional 29,163 shares in the last quarter. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Analyst Upgrades and Downgrades

SBSI has been the subject of several analyst reports. Stephens lowered their price objective on Southside Bancshares from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. Raymond James initiated coverage on Southside Bancshares in a research report on Tuesday, January 14th. They set a “market perform” rating for the company. Finally, StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st.

Southside Bancshares Stock Up 0.2 %

Shares of NASDAQ SBSI opened at $29.24 on Friday. The stock has a market cap of $888.57 million, a PE ratio of 10.05 and a beta of 0.56. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. Southside Bancshares, Inc. has a 52-week low of $25.30 and a 52-week high of $38.00. The business has a 50-day moving average price of $30.84 and a 200 day moving average price of $32.62.

Southside Bancshares Dividend Announcement

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

About Southside Bancshares

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.