Insider Selling: First Interstate BancSystem, Inc. (NASDAQ:FIBK) Major Shareholder Sells 22,050 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Julie A. Scott sold 22,050 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total transaction of $745,290.00. Following the transaction, the insider now owns 613,019 shares of the company’s stock, valued at $20,720,042.20. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 Price Performance

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

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 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 prior year, the company earned $0.70 earnings per share. On average, analysts expect that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on FIBK shares. Barclays cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $32.00 to $30.00 in a report on Thursday, October 31st. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $30.00 to $28.00 in a research note on Tuesday, October 1st. Keefe, Bruyette & Woods increased their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, DA Davidson increased their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and an average target price of $32.50.

Hedge Funds Weigh In On First Interstate BancSystem

Several hedge funds have recently bought and sold shares of FIBK. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of First Interstate BancSystem during the 3rd quarter worth $69,000. CWM LLC raised its stake in 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 buying an additional 430 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of First Interstate BancSystem in the second quarter worth about $106,000. nVerses Capital LLC raised its stake 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 worth $114,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Telos Capital Management Inc. purchased a new position in shares of First Interstate BancSystem in the third quarter worth about $201,000. 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.