First Interstate Bancsystem Inc (FIBK) Major Shareholder Sells $394,100.00 in Stock
First Interstate Bancsystem Inc (NASDAQ:FIBK) major shareholder Homer A. Scott, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $39.41, for a total transaction of $394,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
First Interstate Bancsystem Inc (FIBK) traded down $0.80 during mid-day trading on Friday, reaching $39.70. 229,700 shares of the company traded hands, compared to its average volume of 222,557. First Interstate Bancsystem Inc has a fifty-two week low of $33.33 and a fifty-two week high of $45.35. The firm has a market capitalization of $2,229.97, a price-to-earnings ratio of 17.10, a PEG ratio of 1.88 and a beta of 1.19. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.08.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Tuesday, October 31st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.42%. The ex-dividend date was Monday, October 30th. First Interstate Bancsystem’s dividend payout ratio is presently 48.24%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC raised its holdings in shares of First Interstate Bancsystem by 1.8% during the third quarter. Mutual of America Capital Management LLC now owns 180,609 shares of the financial services provider’s stock valued at $6,908,000 after acquiring an additional 3,196 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in shares of First Interstate Bancsystem during the second quarter valued at approximately $213,000. CS Mckee LP acquired a new stake in shares of First Interstate Bancsystem during the second quarter valued at approximately $958,000. Kennedy Capital Management Inc. acquired a new stake in shares of First Interstate Bancsystem during the second quarter valued at approximately $2,020,000. Finally, LSV Asset Management raised its holdings in shares of First Interstate Bancsystem by 13.2% during the second quarter. LSV Asset Management now owns 618,585 shares of the financial services provider’s stock valued at $23,011,000 after acquiring an additional 71,900 shares during the period. 45.27% of the stock is owned by institutional investors and hedge funds.
FIBK has been the subject of several recent research reports. Barclays set a $43.00 target price on shares of First Interstate Bancsystem and gave the company a “buy” rating in a research note on Wednesday, October 11th. ValuEngine lowered shares of First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, Zacks Investment Research raised shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $43.25.
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First Interstate Bancsystem Company Profile
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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