Grab This Deal Even Lower Than Director Baker Did

Jan 10 2014, 1:44pm CST | by

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 3, First Niagara Financial Group, Inc.’s Director, Thomas E. Baker, invested $24,439.47 into 2,389 shares of FNFG, for a cost per share of $10.23. 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.

Click here to find out which 9 other dividend bargains you can buy cheaper than insiders, at DividendChannel.com »

In trading on Friday, bargain hunters could buy shares of First Niagara Financial Group, Inc. (NASD: FNFG) and achieve a cost basis even cheaper than Baker, with shares changing hands as low as $10.18 per share. It should be noted that Baker has collected $0.08/share in dividends since the time of their purchase, so they are currently up 0.3% on their purchase from a total return basis. First Niagara Financial Group, Inc. shares are currently trading off about 0.2% on the day. The chart below shows the one year performance of FNFG shares, versus its 200 day moving average:

Looking at the chart above, FNFG’s low point in its 52 week range is $7.68 per share, with $11.34 as the 52 week high point — that compares with a last trade of $10.21. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
10/03/2013 George M. Philip Director 555 $10.23 $5,678.23
10/03/2013 Thomas E. Baker Director 2,389 $10.23 $24,439.47
10/03/2013 James R. Boldt Director 1,222 $10.23 $12,501.06

The current annualized dividend paid by First Niagara Financial Group, Inc. is $0.32/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/06/2013. Below is a long-term dividend history chart for FNFG, which can be of good help in judging whether the most recent dividend with approx. 3.1% annualized yield is likely to continue.

According to the ETF Finder at ETFChannel.com, FNFG makes up 1.77% of the SPDR S&P Bank ETF (AMEX: KBE) which is trading lower by about 0.3% on the day Friday.


Special Offer: Find out how Dave Moenning is trading around the most recent insider transactions with a free 30 day trial and a special 20% off coupon from Forbes.


Source: Forbes Business

/>/>
 
 
 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Facebook M is a Hybrid Personal Digital Assistant inside Messenger
Facebook M is a Hybrid Personal Digital Assistant inside Messenger
M relies on artificial intelligence and human assistance.
 
 
iPhone Users get 30 Day Free Samsung Galaxy Trial
iPhone Users get 30 Day Free Samsung Galaxy Trial
Samsung tries everything to get new customers. Now iPhone user can test a new Galaxy smartphone 30 days for free.
 
 
Microsoft released 3rd Windows 10 Updates with KB 3081438
Microsoft released 3rd Windows 10 Updates with KB 3081438
Microsoft's release schedule for Windows 10 updates is fast paced. The company released three updates within 2 weeks.
 
 
New Skinny Jeans for Women Charges and Hides iPhone
New Skinny Jeans for Women Charges and Hides iPhone
Joe's Jeans offers a Jeans for female mobile warriors. Meet the Joe's Jeans #Hello.