Schwab Charles Investment Management Inc. boosted its holdings in shares of Southside Bancshares, Inc. (NASDAQ:SBSI) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,650 shares of the bank’s stock after acquiring an additional 4,254 shares during the period. Schwab Charles Investment Management Inc. owned about 0.41% of Southside Bancshares worth $4,251,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Public Employees Retirement Association of Colorado raised its position in Southside Bancshares by 2.5% during the second quarter. Public Employees Retirement Association of Colorado now owns 7,116 shares of the bank’s stock worth $249,000 after acquiring an additional 174 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Southside Bancshares by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 11,070 shares of the bank’s stock worth $387,000 after acquiring an additional 270 shares during the last quarter. Arizona State Retirement System raised its position in Southside Bancshares by 2.2% during the first quarter. Arizona State Retirement System now owns 13,844 shares of the bank’s stock worth $465,000 after acquiring an additional 300 shares during the last quarter. Mason Street Advisors LLC raised its position in Southside Bancshares by 8.3% during the first quarter. Mason Street Advisors LLC now owns 6,203 shares of the bank’s stock worth $208,000 after acquiring an additional 475 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Southside Bancshares by 12.9% during the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock worth $169,000 after acquiring an additional 576 shares during the last quarter. Institutional investors own 51.45% of the company’s stock.

In other Southside Bancshares news, COO Brian K. Mccabe sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $33.00, for a total transaction of $49,500.00. Following the completion of the sale, the chief operating officer now directly owns 16,658 shares of the company’s stock, valued at $549,714. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tim Carter sold 7,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $33.95, for a total transaction of $237,650.00. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by corporate insiders.

A number of equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Southside Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. BidaskClub downgraded shares of Southside Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Piper Jaffray Companies assumed coverage on shares of Southside Bancshares in a report on Friday, September 22nd. They set a “neutral” rating and a $37.00 price target for the company. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $37.00 price target on shares of Southside Bancshares in a report on Tuesday, October 3rd.

TRADEMARK VIOLATION WARNING: This news story was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/10/17/schwab-charles-investment-management-inc-increases-holdings-in-southside-bancshares-inc-sbsi.html.

Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) opened at 36.86 on Tuesday. The stock has a market capitalization of $1.08 billion, a P/E ratio of 19.41 and a beta of 0.81. The stock’s 50 day moving average is $34.37 and its 200-day moving average is $33.96. Southside Bancshares, Inc. has a one year low of $30.47 and a one year high of $38.08.

Southside Bancshares (NASDAQ:SBSI) last posted its quarterly earnings data on Friday, July 28th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Southside Bancshares had a net margin of 25.30% and a return on equity of 10.42%. The firm had revenue of $44.72 million for the quarter, compared to analysts’ expectations of $50.40 million. On average, equities research analysts expect that Southside Bancshares, Inc. will post $2.07 EPS for the current year.

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.

Want to see what other hedge funds are holding SBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southside Bancshares, Inc. (NASDAQ:SBSI).

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

Receive News & Ratings for Southside Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southside Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.