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| Top Buys by Directors: Isaac's $144.1K Bet on FITBBy Dividend Channel Staff, Monday, August 20, 3:04 PM ET
The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock 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 company directors over the trailing six month period, one of which was a total of $144.1K by William M. Isaac, Director at Fifth Third Bancorp (NASDAQ:FITB). Isaac bets big on FITB:
Isaac's average cost works out to $14.41/share. In trading on Monday, bargain hunters could buy shares of Fifth Third Bancorp (NASDAQ:FITB) and achieve a cost basis lower than Isaac, with shares changing hands as low as $14.33 per share. It should be noted that Isaac has collected $0.08/share in dividends since the time of their purchase, so they are currently up 0.0% on their purchase from a total return basis. Shares of Fifth Third Bancorp were changing hands at $14.37 at last check, trading off about 0.3% on Monday. The chart below shows the one year performance of FITB shares, versus its 200 day moving average:
Looking at the chart above, FITB's low point in its 52 week range is $9.13 per share, with $14.73 as the 52 week high point — that compares with a last trade of $14.37. The current annualized dividend paid by Fifth Third Bancorp is $0.32/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 06/27/2012. Below is a long-term dividend history chart for FITB, which can be of good help in judging whether the most recent dividend with approx. 2.2% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, FITB makes up 4.93% of the Dynamic Banking Portfolio ETF (AMEX:PJB) which is trading lower by about 0.4% on the day Monday. See what other ETFs contain FITB » Special Offer: Find out how Dave Moenning is trading around the most recent insider transactions with a free 30 day trial .
Find the right mix of model portfolios today at PortfolioChannel.com
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One Reason For Insiders to Buy
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