Yahoo Finance Melvin Lovelady Is The Independent Director of Southside Bancshares, Inc. (NASDAQ:SBSI) And They Just Spent US$53k On Shares
Even if it's not a huge purchase, we think it was good to see that Melvin Lovelady, the Independent Director of Southside Bancshares, Inc. (NASDAQ:SBSI) recently shelled out US$53k to buy stock, at US$26.47 per share. However, we do note that it only increased their holding by 9.6%, and it wasn't a huge purchase by absolute value, either.
View our latest analysis for Southside Bancshares
Southside Bancshares Insider Transactions Over The Last Year
Notably, that recent purchase by Melvin Lovelady is the biggest insider purchase of Southside Bancshares shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of US$28.74. Of course they may have changed their mind. But this suggests they are optimistic. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. In this case we're pleased to report that the insider purchases were made at close to current prices.
Southside Bancshares insiders may have bought shares in the last year, but they didn't sell any. Their average price was about US$29.95. These transactions suggest that insiders have considered the current price attractive. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
Southside Bancshares is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 5.4% of Southside Bancshares shares, worth about US$53m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Does This Data Suggest About Southside Bancshares Insiders?
It's certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. Given that insiders also own a fair bit of Southside Bancshares we think they are probably pretty confident of a bright future. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. At Simply Wall St, we found 2 warning signs for Southside Bancshares that deserve your attention before buying any shares.
Of course Southside Bancshares may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.
