First Interstate BancSystem, Inc. (NASDAQ:FIBK) Major Shareholder Sells $662,811.60 in Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Julie A. Scott sold 20,220 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the sale, the insider now owns 635,069 shares of the company’s stock, valued at $20,817,561.82. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 NASDAQ:FIBK opened at $33.28 on Friday. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $34.53. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $3.48 billion, a P/E ratio of 14.60 and a beta of 0.81. The firm’s 50 day moving average is $30.94 and its two-hundred day moving average is $29.22.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter last year, the business posted $0.70 earnings per share. Analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.65%. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

Analyst Ratings Changes

FIBK has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Piper Sandler decreased their price target on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. DA Davidson raised their price target on First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Stephens reaffirmed an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a report on Thursday, October 10th. Finally, StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $32.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of First Interstate BancSystem during the 3rd quarter worth about $69,000. Kestra Investment Management LLC acquired a new position in shares of First Interstate BancSystem during the third quarter worth approximately $789,000. Verition Fund Management LLC acquired a new position in shares of First Interstate BancSystem during the third quarter worth approximately $339,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of First Interstate BancSystem during the third quarter worth approximately $2,362,000. Finally, BNP Paribas Financial Markets raised its stake in shares of First Interstate BancSystem by 97.0% during the third quarter. BNP Paribas Financial Markets now owns 31,779 shares of the financial services provider’s stock worth $975,000 after buying an additional 15,649 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

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.