Parametric Portfolio Associates LLC raised its stake in Southside Bancshares, Inc. (NASDAQ:SBSI) by 13.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,064 shares of the bank’s stock after buying an additional 3,708 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.11% of Southside Bancshares worth $1,076,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Texas Permanent School Fund increased its stake in shares of Southside Bancshares by 0.4% in the first quarter. Texas Permanent School Fund now owns 19,204 shares of the bank’s stock worth $645,000 after buying an additional 85 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Southside Bancshares by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the bank’s stock worth $363,000 after buying an additional 300 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Southside Bancshares by 5.0% in the fourth quarter. AQR Capital Management LLC now owns 9,678 shares of the bank’s stock worth $365,000 after buying an additional 465 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Southside Bancshares by 12.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,024 shares of the bank’s stock worth $169,000 after buying an additional 576 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Southside Bancshares by 1.3% in the first quarter. Wells Fargo & Company MN now owns 44,845 shares of the bank’s stock worth $1,506,000 after buying an additional 595 shares during the last quarter. Institutional investors and hedge funds own 50.95% of the company’s stock.

Shares of Southside Bancshares, Inc. (NASDAQ:SBSI) opened at 35.10 on Friday. The firm has a market capitalization of $1.03 billion, a P/E ratio of 19.19 and a beta of 0.78. Southside Bancshares, Inc. has a 52-week low of $29.29 and a 52-week high of $38.04. The stock’s 50 day moving average is $34.56 and its 200-day moving average is $34.02.

Southside Bancshares (NASDAQ:SBSI) last issued its quarterly earnings results on Friday, April 28th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $44.95 million during the quarter, compared to analyst estimates of $48.40 million. Southside Bancshares had a net margin of 24.40% and a return on equity of 10.19%. On average, equities analysts forecast that Southside Bancshares, Inc. will post $2.14 earnings per share for the current fiscal year.

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A number of equities research analysts recently commented on SBSI shares. Zacks Investment Research downgraded shares of Southside Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.00 price objective on shares of Southside Bancshares in a research report on Friday, April 28th. Finally, BidaskClub upgraded shares of Southside Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th.

In other news, Director Alton Cade, Jr. sold 2,950 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $35.31, for a total value of $104,164.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tim Carter sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $34.76, for a total transaction of $173,800.00. Following the completion of the sale, the insider now directly owns 39,752 shares of the company’s stock, valued at $1,381,779.52. The disclosure for this sale can be found here. Corporate insiders own 17.20% of the company’s stock.

About Southside Bancshares

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.

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

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