Jonathan R. Scott Sells 6,500 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the transaction, the director now owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

First Interstate BancSystem Stock Performance

Shares of FIBK opened at $33.14 on Friday. The firm has a market capitalization of $3.46 billion, a PE ratio of 14.54 and a beta of 0.81. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $31.01 and a 200 day moving average price of $29.25. 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 posted 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 quarter in the prior year, the firm earned $0.70 earnings per share. On average, sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem’s dividend payout ratio is presently 82.46%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in First Interstate BancSystem in the third quarter worth approximately $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of First Interstate BancSystem in the 3rd quarter worth $69,000. CWM LLC grew its holdings in shares of First Interstate BancSystem by 16.0% in the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 430 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of First Interstate BancSystem during the second quarter worth $106,000. Finally, nVerses Capital LLC lifted its holdings in shares of First Interstate BancSystem by 412.5% during 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 during the last quarter. Institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler lowered their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Stephens restated an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research report on Thursday, October 10th. DA Davidson lifted 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. Barclays cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $32.00 to $30.00 in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods lifted their price target on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.50.

About First Interstate BancSystem

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.