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 First Interstate BancSystem stock in a transaction 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 transaction, the insider now owns 635,069 shares in the company, valued at $20,817,561.82. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $33.28 on Friday. The stock has a market cap of $3.48 billion, a PE ratio of 14.60 and a beta of 0.81. The business has a 50-day simple moving average of $30.94 and a 200-day simple moving average of $29.22. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $34.53.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data 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 net margin of 15.94% and a return on equity of 7.48%. During the same period last year, the firm posted $0.70 earnings per share. On average, equities analysts expect that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FIBK shares. Barclays downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $32.00 to $30.00 in a research note on Thursday, October 31st. Wells Fargo & Company downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Keefe, Bruyette & Woods boosted their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Stephens reiterated an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.50.

Hedge Funds Weigh In On First Interstate BancSystem

A number of large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in First Interstate BancSystem during the 3rd quarter worth approximately $69,000. CWM LLC grew its position in shares of First Interstate BancSystem by 16.0% in the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 430 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of First Interstate BancSystem in the second quarter valued at approximately $106,000. nVerses Capital LLC grew its position in shares of First Interstate BancSystem by 412.5% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Telos Capital Management Inc. purchased a new stake in shares of First Interstate BancSystem in the third quarter valued at approximately $201,000. Institutional investors and hedge funds 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.