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| Southside Bancshares Shares Slide 22.1% Below Buie's Purchase PriceBy Dividend Channel Staff, Wednesday, May 3, 3:14 PM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on January 31, Southside Bancshares, Inc.'s Director, Herbert C. Buie, invested $88,607.40 into 2,380 shares of SBSI, for a cost per share of $37.23. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Wednesday, bargain hunters could buy shares of Southside Bancshares, Inc. (NASDAQ:SBSI) and achieve a cost basis 22.1% cheaper than Buie, with shares changing hands as low as $29.00 per share. It should be noted that Buie has collected $0.35/share in dividends since the time of their purchase, so they are currently down 21.2% on their purchase from a total return basis. Southside Bancshares, Inc. shares are currently trading up about 0.5% on the day. The chart below shows the one year performance of SBSI shares, versus its 200 day moving average:
Looking at the chart above, SBSI's low point in its 52 week range is $28.92 per share, with $42.01 as the 52 week high point — that compares with a last trade of $29.00. By comparison, below is a table showing the prices at which SBSI insider buying was recorded over the last six months:
The current annualized dividend paid by Southside Bancshares, Inc. is $1.4/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 02/15/2023. Below is a long-term dividend history chart for SBSI, which can be of good help in judging whether the most recent dividend with approx. 4.8% annualized yield is likely to continue.
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