On September 14, 2023, Jared Green, the Regional President of Southside Bancshares Inc (SBSI, Financial), sold 1,665 shares of the company. This move by the insider has sparked interest in the financial community and warrants a closer look.
Jared Green has been with Southside Bancshares Inc for several years, serving in various capacities before his current role as Regional President. His deep understanding of the company's operations and strategic direction makes his stock transactions particularly noteworthy.
Southside Bancshares Inc is a bank holding company that provides a range of financial services to individuals, businesses, municipal entities, and non-profit organizations in the communities that it serves. The company operates through three segments: Community Banking, Mortgage, and Trust. The Community Banking segment offers deposit and lending services. The Mortgage segment provides mortgage lending services. The Trust segment provides trust services to customers.
Over the past year, the insider has sold a total of 1,665 shares and has not made any purchases. This trend is worth noting, as it could potentially signal the insider's sentiment towards the company's future prospects.
The insider transaction history for Southside Bancshares Inc shows a total of 8 insider buys and 3 insider sells over the past year. This suggests a generally positive sentiment among the company's insiders, despite the recent sell by the insider.
On the day of the insider's recent sell, shares of Southside Bancshares Inc were trading at $29.81, giving the company a market cap of $917.785 million. The stock's price-earnings ratio stands at 8.97, which is higher than the industry median of 8.29 but lower than the company's historical median price-earnings ratio.
According to the GuruFocus Value, which is an intrinsic value estimate based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates, Southside Bancshares Inc is significantly undervalued. The stock's price-to-GF-Value ratio is 0.7, with a GF Value of $42.66 and a current price of $29.81.
In conclusion, the recent sell by the insider does not necessarily indicate a negative outlook for Southside Bancshares Inc. The company's stock appears to be undervalued, and the overall insider transaction history shows more buys than sells over the past year. Investors should keep a close eye on future insider transactions and other market indicators to make informed investment decisions.
