American Century Companies Inc. Purchases 1,984 Shares of Southside Bancshares, Inc. (NASDAQ:SBSI)

American Century Companies Inc. lifted its position in Southside Bancshares, Inc. (NASDAQ:SBSI) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 168,450 shares of the bank’s stock after purchasing an additional 1,984 shares during the quarter. American Century Companies Inc. owned about 0.56% of Southside Bancshares worth $4,651,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in Southside Bancshares by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,825 shares of the bank’s stock worth $11,395,000 after acquiring an additional 15,470 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Southside Bancshares by 0.9% in the first quarter. ProShare Advisors LLC now owns 266,202 shares of the bank’s stock worth $7,781,000 after purchasing an additional 2,456 shares during the last quarter. Empowered Funds LLC raised its stake in Southside Bancshares by 8.1% in the first quarter. Empowered Funds LLC now owns 65,458 shares of the bank’s stock valued at $1,913,000 after purchasing an additional 4,900 shares in the last quarter. Chatham Capital Group Inc. raised its stake in Southside Bancshares by 11.9% in the first quarter. Chatham Capital Group Inc. now owns 49,563 shares of the bank’s stock valued at $1,449,000 after purchasing an additional 5,275 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Southside Bancshares by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,315 shares of the bank’s stock valued at $828,000 after purchasing an additional 1,074 shares during the last quarter. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Southside Bancshares Stock Performance

Shares of NASDAQ SBSI opened at $32.97 on Thursday. The stock’s 50-day moving average is $32.98 and its 200 day moving average is $29.36. The stock has a market cap of $998.50 million, a price-to-earnings ratio of 12.26 and a beta of 0.54. Southside Bancshares, Inc. has a 1-year low of $25.30 and a 1-year high of $36.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.17. Southside Bancshares had a net margin of 18.90% and a return on equity of 10.64%. The business had revenue of $115.74 million for the quarter, compared to analysts’ expectations of $64.91 million. During the same period last year, the business earned $0.82 earnings per share. On average, sell-side analysts anticipate that Southside Bancshares, Inc. will post 2.96 EPS for the current fiscal year.

Southside Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.37%. The ex-dividend date was Thursday, August 22nd. Southside Bancshares’s dividend payout ratio is presently 53.53%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SBSI shares. Hovde Group increased their price target on shares of Southside Bancshares from $31.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. StockNews.com raised Southside Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd.

Insider Buying and Selling at Southside Bancshares

In other news, insider T L. Arnold, Jr. sold 3,999 shares of Southside Bancshares stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $31.63, for a total value of $126,488.37. Following the transaction, the insider now owns 16,441 shares in the company, valued at $520,028.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Southside Bancshares news, CFO Julie Shamburger sold 5,360 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $35.03, for a total transaction of $187,760.80. Following the completion of the sale, the chief financial officer now owns 24,327 shares of the company’s stock, valued at approximately $852,174.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider T L. Arnold, Jr. sold 3,999 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $31.63, for a total transaction of $126,488.37. Following the completion of the transaction, the insider now owns 16,441 shares in the company, valued at approximately $520,028.83. The disclosure for this sale can be found here. Insiders sold a total of 14,890 shares of company stock worth $500,319 over the last three months. Company insiders own 5.90% of the company’s stock.

Southside Bancshares Company 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.