First Interstate BancSystem (NASDAQ:FIBK) Director Sells $118,104.00 in Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director James Scott, Jr. sold 3,108 shares of First Interstate BancSystem stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $38.00, for a total value of $118,104.00. Following the transaction, the director owned 77,634 shares in the company, valued at approximately $2,950,092. This represents a 3.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

First Interstate BancSystem Trading Down 2.8%

Shares of FIBK stock opened at $38.01 on Friday. The company’s 50-day moving average price is $36.54 and its 200-day moving average price is $36.32. The company has a current ratio of 0.68, a quick ratio of 0.69 and a debt-to-equity ratio of 0.09. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 11.84 and a beta of 0.73. First Interstate BancSystem, Inc. has a twelve month low of $29.39 and a twelve month high of $40.60.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). First Interstate BancSystem had a net margin of 23.30% and a return on equity of 9.49%. The firm had revenue of $43.30 million during the quarter, compared to analysts’ expectations of $247.93 million. As a group, equities analysts predict that First Interstate BancSystem, Inc. will post 2.79 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, November 3rd will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 4.9%. The ex-dividend date is Tuesday, November 3rd. First Interstate BancSystem’s payout ratio is presently 58.57%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a report on Monday, October 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Interstate BancSystem in a report on Monday, September 28th. Benchmark upgraded First Interstate BancSystem to a “hold” rating in a report on Wednesday, September 23rd. 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 research report on Monday, August 10th. Finally, DA Davidson reissued a “neutral” rating and set a $39.00 target price on shares of First Interstate BancSystem in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $37.14.

Institutional Investors Weigh In On First Interstate BancSystem

A number of institutional investors and hedge funds have recently made changes to their positions in FIBK. Maryland State Retirement & Pension System boosted its position in First Interstate BancSystem by 47.9% in the 3rd quarter. Maryland State Retirement & Pension System now owns 18,148 shares of the financial services provider’s stock valued at $649,000 after buying an additional 5,880 shares during the period. Ritholtz Wealth Management acquired a new position in shares of First Interstate BancSystem in the third quarter worth $1,769,000. Keybank National Association OH increased its position in shares of First Interstate BancSystem by 5.8% during the third quarter. Keybank National Association OH now owns 8,901 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 491 shares during the period. Fulcrum Asset Management LLP increased its position in shares of First Interstate BancSystem by 294.3% during the third quarter. Fulcrum Asset Management LLP now owns 1,388 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 1,036 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of First Interstate BancSystem by 1.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 56,193 shares of the financial services provider’s stock worth $2,029,000 after acquiring an additional 975 shares during the period. 88.71% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Company Profile

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.