Jonathan Scott Sells 4,800 Shares of First Interstate BancSystem (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 4,800 shares of First Interstate BancSystem stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $31.27, for a total transaction of $150,096.00. Following the sale, the insider directly owned 941,024 shares of the company’s stock, valued at $29,425,820.48. This trade represents a 0.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major 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 Trading Down 0.2%

Shares of NASDAQ:FIBK opened at $31.69 on Wednesday. The firm has a fifty day moving average of $32.03 and a two-hundred day moving average of $29.80. The firm has a market capitalization of $3.32 billion, a P/E ratio of 13.37 and a beta of 0.79. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.19.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Wednesday, October 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $43.70 million during the quarter, compared to analyst estimates of $254.71 million. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 7.30%. During the same quarter last year, the business posted $0.54 EPS. On average, equities analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 10th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.9%. First Interstate BancSystem’s dividend payout ratio (DPR) is 79.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. State of New Jersey Common Pension Fund D increased its holdings in shares of First Interstate BancSystem by 13.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 71,154 shares of the financial services provider’s stock worth $2,051,000 after purchasing an additional 8,243 shares during the period. First Interstate Bank increased its holdings in shares of First Interstate BancSystem by 14.1% during the 1st quarter. First Interstate Bank now owns 5,053,342 shares of the financial services provider’s stock worth $144,778,000 after purchasing an additional 624,268 shares during the period. KBC Group NV increased its stake in First Interstate BancSystem by 26.4% during the first quarter. KBC Group NV now owns 5,079 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 1,061 shares during the period. Brown Advisory Inc. increased its stake in First Interstate BancSystem by 1.1% during the first quarter. Brown Advisory Inc. now owns 1,017,252 shares of the financial services provider’s stock valued at $29,144,000 after acquiring an additional 11,209 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in First Interstate BancSystem during the first quarter valued at about $596,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analyst Upgrades and Downgrades

FIBK has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. DA Davidson boosted their price target on First Interstate BancSystem from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Wednesday, October 8th. Wall Street Zen cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Monday, August 11th. Finally, Barclays boosted their price target on First Interstate BancSystem from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.43.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.