First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Sells 825 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 825 shares of First Interstate BancSystem stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $37.00, for a total transaction of $30,525.00. Following the sale, the insider owned 811,913 shares in the company, valued at $30,040,781. This represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Price Performance

Shares of First Interstate BancSystem stock traded up $0.90 during trading on Monday, hitting $37.68. 1,641,737 shares of the company’s stock traded hands, compared to its average volume of 1,162,492. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.69 and a quick ratio of 0.69. The firm’s fifty day moving average price is $36.50 and its 200 day moving average price is $36.57. First Interstate BancSystem, Inc. has a twelve month low of $29.39 and a twelve month high of $40.60. The company has a market cap of $3.59 billion, a PE ratio of 11.74 and a beta of 0.73.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.03). The business had revenue of $249.50 million during the quarter, compared to analyst estimates of $247.93 million. First Interstate BancSystem had a return on equity of 9.49% and a net margin of 29.18%. Analysts forecast that First Interstate BancSystem, Inc. will post 2.88 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, November 3rd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Tuesday, November 3rd. First Interstate BancSystem’s dividend payout ratio is currently 58.57%.

Analyst Ratings Changes

FIBK has been the topic of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of First Interstate BancSystem in a research note on Monday, September 28th. DA Davidson reaffirmed a “neutral” rating and set a $39.00 price objective on shares of First Interstate BancSystem in a research note on Monday, July 27th. Wells Fargo & Company reiterated an “underweight” rating and issued a $34.00 price objective (down from $36.00) on shares of First Interstate BancSystem in a report on Monday, August 10th. Wall Street Zen lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Barclays increased their target price on First Interstate BancSystem from $37.00 to $38.00 and gave the company an “underweight” rating in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $37.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in First Interstate BancSystem by 17.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,099 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 315 shares during the period. GAMMA Investing LLC lifted its position in shares of First Interstate BancSystem by 31.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,698 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 639 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of First Interstate BancSystem in the 2nd quarter valued at $26,000. Root Financial Partners LLC bought a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at $25,000. Finally, AdvisorNet Financial Inc increased its position in shares of First Interstate BancSystem by 18.1% during the third quarter. AdvisorNet Financial Inc now owns 6,055 shares of the financial services provider’s stock worth $208,000 after buying an additional 930 shares during the period. Institutional investors own 88.71% of the company’s stock.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides community banking services to individuals, businesses, agricultural customers and governmental entities.

First Interstate Bank offers deposit accounts, consumer and commercial loans, mortgage lending, credit cards, cash-management and treasury-management services, online and mobile banking, and wealth-management and investment services.