First Interstate BancSystem, Inc. (NASDAQ:FIBK) Major Shareholder James R. Scott, Jr. Sells 6,067 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the transaction, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Stock Performance

NASDAQ FIBK opened at $35.35 on Thursday. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 15.50 and a beta of 0.81. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77. The stock has a fifty day simple moving average of $31.79 and a 200 day simple moving average of $29.68. 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 (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 analysts’ consensus estimates 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 EPS. Sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given 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 dividend yield of 5.32%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 82.46%.

Wall Street Analysts Forecast Growth

FIBK has been the topic of several recent analyst reports. Stephens reiterated an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company cut shares of 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 report on Tuesday, October 1st. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $32.00 to $30.00 in a report on Thursday, October 31st. Finally, DA Davidson upgraded shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and raised their target price for the company from $32.00 to $42.00 in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $33.83.

Institutional Investors Weigh In On First Interstate BancSystem

Several large investors have recently modified their holdings of the company. TNF LLC grew its holdings in First Interstate BancSystem by 1.5% during the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock worth $812,000 after acquiring an additional 367 shares during the period. Caprock Group LLC boosted its holdings in shares of First Interstate BancSystem by 1.7% during the 2nd quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock worth $713,000 after buying an additional 422 shares in the last quarter. Wrapmanager Inc. increased its stake in shares of First Interstate BancSystem by 5.0% in the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 429 shares in the last quarter. CWM LLC lifted its position in shares of First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 430 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of First Interstate BancSystem by 5.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 507 shares during the period. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.