Top Buys by Top Brass: CFO Riley's $487.2K Bet on FIBK

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. 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 — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $487.2K invested across 2 purchases by Kevin P. Riley, CFO at First Interstate BancSystem, Inc. (FIBK).

START SLIDESHOW:
Click here to find out which other top insider buys by the ''top brass'' you need to know about »

Riley bets big on FIBK:
Purchased Insider Title Shares Price/Share Value
08/30/2013 Kevin P. Riley Exec. Vice Pres. & CFO 10,000 $22.77 $227,704.00
10/24/2013 Kevin P. Riley Exec. Vice Pres. & CFO 10,000 $25.95 $259,478.00

Riley's average cost works out to $24.36/share. Shares of First Interstate BancSystem, Inc. were changing hands at $24.84 at last check, trading up about 0.2% on Friday. 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 $17.07 per share, with $29.53 as the 52 week high point — that compares with a last trade of $24.84.

The current annualized dividend paid by First Interstate BancSystem, Inc. is $0.64/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 01/31/2014. Below is a long-term dividend history chart for FIBK, which can be of good help in judging whether the most recent dividend with approx. 2.6% annualized yield is likely to continue.

FIBK+Dividend+History+Chart

According to the ETF Finder at ETF Channel, FIBK makes up 1.30% of the Dynamic Financial Sector Portfolio ETF ( PFI) which is trading higher by about 1.3% on the day Friday.

More from Stocks

WATCH LIVE: Facebook CEO Mark Zuckerberg Appears Before European Parliament

WATCH LIVE: Facebook CEO Mark Zuckerberg Appears Before European Parliament

Jim Cramer: Schlumberger Predicted the Rise in Oil Prices

Jim Cramer: Schlumberger Predicted the Rise in Oil Prices

Jim Cramer on Zillow's New Business: Buying and Selling Homes

Jim Cramer on Zillow's New Business: Buying and Selling Homes

Jim Cramer: Wabtec Deal Gives General Electric Optionality

Jim Cramer: Wabtec Deal Gives General Electric Optionality

Jim Cramer on the Markets: It's Natural to Have Some Profit Taking

Jim Cramer on the Markets: It's Natural to Have Some Profit Taking