Insider Buying Signals Opportunity at First Interstate BancSystem
In this series, we analyze the latest DividendRank report from Dividend Channel, focusing on companies with recent insider purchases. Corporate officers often possess unique insights into their firms, and when they invest their own money in the stock market, it’s typically a sign of confidence in the company’s prospects. One notable company is First Interstate BancSystem Inc (Symbol: FIBK), where CEO Kevin P. Riley made a substantial investment.
On August 1, Riley purchased 11,232 shares of FIBK for a total of $347,718.42, at a price of $30.96 per share. As of Friday, shares traded at $32.27, reflecting a 4.2% increase from his purchase price. Additionally, since the purchase, Riley has received $0.94 per share in dividends, marking an overall return of 7.3%. As of today, FIBK shares have risen by 0.66%.
The chart indicates that FIBK’s share price has fluctuated between a low of $22.8917 and a high of $34.53 in the past year, with the latest trade recorded at $32.82. Below is a table outlining recent insider transactions:
| Purchased | Insider | Title | Shares | Price/Share | Value |
|---|---|---|---|---|---|
| 08/01/2024 | Kevin P. Riley | President & CEO | 11,232 | $30.96 | $347,718.42 |
The DividendRank report indicated that FIBK shares have attractive valuation and profitability metrics. The current share price of $32.61 yields a price-to-book ratio of 1.0 and an annual dividend yield of 5.77%. In contrast, the average company in the same coverage area boasts a yield of 4.5% and a price-to-book ratio of 2.4. This report highlighted FIBK’s strong quarterly dividend history and the company’s favorable long-term growth rates.
According to the report, “Dividend investors interested in value typically seek out strong, profitable companies that are trading at attractive prices. We use our proprietary DividendRank formula to identify such opportunities, enabling investors to explore stocks that warrant further research.”
First Interstate BancSystem Inc currently pays an annualized dividend of $1.88 per share, distributed quarterly. The most recent ex-dividend date was November 4, 2024. Below is a long-term dividend history chart for FIBK, which the report emphasizes is crucial for evaluating the sustainability of dividends.
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Related Resources:
• Preferred Stock Notification Service
• SRCI Historical Stock Prices
• KW Price Target
The views expressed here are those of the author and do not necessarily represent the views of Nasdaq, Inc.
