Charles Schwab Investment Management Inc. Sells 32,871 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

Charles Schwab Investment Management Inc. cut its holdings in Southside Bancshares, Inc. (NASDAQ:SBSI - Free Report) by 10.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 292,728 shares of the bank's stock after selling 32,871 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.97% of Southside Bancshares worth $9,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Southside Bancshares by 61.1% in the 4th quarter. GAMMA Investing LLC now owns 1,337 shares of the bank's stock valued at $42,000 after purchasing an additional 507 shares during the period. Point72 DIFC Ltd acquired a new stake in Southside Bancshares in the 3rd quarter valued at approximately $83,000. Quantbot Technologies LP lifted its stake in 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 acquiring an additional 1,890 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in Southside Bancshares by 172.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,176 shares of the bank's stock worth $106,000 after acquiring an additional 2,011 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Southside Bancshares by 226.9% during the 3rd quarter. FMR LLC now owns 3,432 shares of the bank's stock worth $115,000 after acquiring an additional 2,382 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors and hedge funds.

Southside Bancshares Stock Up 0.3 %

Shares of NASDAQ SBSI traded up $0.10 during trading hours on Wednesday, hitting $29.57. The company had a trading volume of 69,102 shares, compared to its average volume of 104,354. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. The firm's 50 day moving average is $30.79 and its 200-day moving average is $32.57. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-year high of $38.00. The stock has a market capitalization of $898.60 million, a P/E ratio of 10.16 and a beta of 0.56.

Southside Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were issued 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 4.87%. Southside Bancshares's payout ratio is 49.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SBSI. StockNews.com raised shares of Southside Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Raymond James assumed coverage on shares of Southside Bancshares in a research report on Tuesday, January 14th. They set a "market perform" rating on the stock. Finally, Stephens decreased their price objective on Southside Bancshares from $38.00 to $37.00 and set an "equal weight" rating for the company in a report on Thursday, January 30th.

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.