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TheStreet Open House

FIBK Selling Below CFO's Recent Buy Price

Stocks in this article: FIBK

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 October 24, First Interstate BancSystem, Inc.'s CFO, Kevin P. Riley, invested $259,478.00 into 10,000 shares of FIBK, for a cost per share of $25.95. 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.

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In trading on Tuesday, bargain hunters could buy shares of First Interstate BancSystem, Inc. (FIBK) and achieve a cost basis 4.2% cheaper than Riley, with shares changing hands as low as $24.85 per share. It should be noted that Riley has collected $0.30/share in dividends since the time of their purchase, so they are currently down 3.1% on their purchase from a total return basis. First Interstate BancSystem, Inc. shares are currently trading up about 0.3% on the day. The chart below shows the one year performance of FIBK shares, versus its 200 day moving average:

First Interstate BancSystem, Inc. Chart

Looking at the chart above, FIBK's low point in its 52 week range is $17.15 per share, with $29.53 as the 52 week high point — that compares with a last trade of $24.85. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

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