Insider Selling: First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Sells 16,929 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 16,929 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $37.03, for a total value of $626,880.87. Following the transaction, the insider owned 825,809 shares in the company, valued at approximately $30,579,707.27. This represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Price Performance

Shares of FIBK stock traded up $0.43 during trading hours on Monday, reaching $37.35. The company had a trading volume of 448,162 shares, compared to its average volume of 1,138,589. First Interstate BancSystem, Inc. has a 12-month low of $29.10 and a 12-month high of $40.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 11.49 and a beta of 0.75. The stock has a fifty day moving average of $38.06 and a 200-day moving average of $36.14.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.18. The firm had revenue of $263.90 million for the quarter, compared to the consensus estimate of $249.32 million. First Interstate BancSystem had a return on equity of 9.55% and a net margin of 23.63%.The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. On average, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.84 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Tuesday, August 4th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.0%. First Interstate BancSystem’s dividend payout ratio is currently 57.85%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of First Interstate BancSystem during the second quarter valued at about $529,533,000. Wellington Management Group LLP lifted its holdings in shares of First Interstate BancSystem by 20.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,915,425 shares of the financial services provider’s stock worth $188,525,000 after acquiring an additional 1,003,021 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Interstate BancSystem by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,630,789 shares of the financial services provider’s stock worth $188,066,000 after purchasing an additional 231,405 shares during the period. State Street Corp boosted its position in shares of First Interstate BancSystem by 29.7% during the 4th quarter. State Street Corp now owns 5,482,245 shares of the financial services provider’s stock worth $189,686,000 after purchasing an additional 1,254,321 shares during the period. Finally, California State Teachers Retirement System increased its holdings in First Interstate BancSystem by 3,134.1% in the 2nd quarter. California State Teachers Retirement System now owns 3,672,300 shares of the financial services provider’s stock valued at $141,604,000 after purchasing an additional 3,558,749 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on FIBK shares. Weiss Ratings raised shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Wells Fargo & Company restated an “underweight” rating and set a $34.00 price target (down from $36.00) on shares of First Interstate BancSystem in a report on Monday, August 10th. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $38.00 to $37.00 in a research report on Monday, August 3rd. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Monday, June 22nd. Finally, DA Davidson reiterated a “neutral” rating and issued a $39.00 price objective on shares of First Interstate BancSystem in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, First Interstate BancSystem has an average rating of “Reduce” and a consensus target price of $36.83.

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, governmental entities and nonprofit organizations.

Its products and services include personal and business deposit accounts, consumer and commercial lending, mortgage banking, treasury management, online and mobile banking, investment services, and wealth management.