First Interstate BancSystem, Inc. (NASDAQ:FIBK) Major Shareholder Julie A. Scott Sells 22,050 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Julie A. Scott sold 22,050 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the sale, the insider now owns 613,019 shares in the company, valued at $20,720,042.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Price Performance

FIBK opened at $33.74 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.79 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3.53 billion, a P/E ratio of 14.80 and a beta of 0.81. The stock has a 50-day moving average price of $30.81 and a 200-day moving average price of $29.14. First Interstate BancSystem, Inc. has a 12-month low of $22.89 and a 12-month high of $34.53.

First Interstate BancSystem (NASDAQ:FIBK) last issued its 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 period in the previous year, the business posted $0.70 earnings per share. Equities analysts predict that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.57%. The ex-dividend date of this dividend is Monday, November 4th. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

Institutional Trading of First Interstate BancSystem

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its holdings in shares of First Interstate BancSystem by 235.6% in the first quarter. BNP Paribas Financial Markets now owns 78,311 shares of the financial services provider’s stock worth $2,131,000 after buying an additional 54,973 shares during the period. SG Americas Securities LLC purchased a new position in First Interstate BancSystem in the 1st quarter worth approximately $273,000. Swiss National Bank increased its stake in First Interstate BancSystem by 6.0% in the 1st quarter. Swiss National Bank now owns 186,546 shares of the financial services provider’s stock worth $5,076,000 after purchasing an additional 10,600 shares during the period. Sei Investments Co. lifted its position in First Interstate BancSystem by 5.8% in the first quarter. Sei Investments Co. now owns 448,158 shares of the financial services provider’s stock valued at $12,194,000 after purchasing an additional 24,552 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of First Interstate BancSystem by 4.6% during the first quarter. Inspire Investing LLC now owns 13,057 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 570 shares during the period. 88.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on FIBK shares. Stephens restated an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. DA Davidson raised their price target on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company cut First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $30.00 to $28.00 in a report on Tuesday, October 1st. Barclays cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $32.00 to $30.00 in a research note on Thursday, October 31st. Finally, StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Tuesday. Two equities research 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, First Interstate BancSystem has a consensus rating of “Hold” and an average target price of $32.50.

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.