Insider Selling: First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Sells $150,096.00 in Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 4,800 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $31.27, for a total transaction of $150,096.00. Following the completion of the transaction, the insider directly owned 941,024 shares in the company, valued at $29,425,820.48. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Trading Up 1.6%

Shares of First Interstate BancSystem stock opened at $32.20 on Thursday. The firm has a market capitalization of $3.38 billion, a PE ratio of 13.59 and a beta of 0.83. First Interstate BancSystem, Inc. has a twelve month low of $22.95 and a twelve month high of $36.77. The firm’s 50-day moving average price is $32.03 and its 200 day moving average price is $29.82. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.19.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $43.70 million for the quarter, compared to analyst estimates of $254.71 million. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 7.30%. During the same period last year, the company posted $0.54 EPS. On average, sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 10th will be issued a $0.47 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.88 dividend on an annualized basis and a yield of 5.8%. First Interstate BancSystem’s dividend payout ratio is presently 79.32%.

Analyst Upgrades and Downgrades

FIBK has been the subject of a number of recent research reports. DA Davidson increased their price objective on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, September 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Wednesday, October 8th. UBS Group increased their price objective on shares of First Interstate BancSystem from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays increased their price objective on shares of First Interstate BancSystem from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and an average target price of $35.29.

Institutional Trading of First Interstate BancSystem

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of First Interstate BancSystem by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,209,671 shares of the financial services provider’s stock worth $149,254,000 after purchasing an additional 163,930 shares during the period. First Interstate Bank boosted its position in shares of First Interstate BancSystem by 14.1% during the 1st quarter. First Interstate Bank now owns 5,053,342 shares of the financial services provider’s stock worth $144,778,000 after purchasing an additional 624,268 shares during the period. State Street Corp boosted its position in shares of First Interstate BancSystem by 2.3% during the 2nd quarter. State Street Corp now owns 4,050,473 shares of the financial services provider’s stock worth $116,735,000 after purchasing an additional 92,715 shares during the period. HoldCo Asset Management LP purchased a new position in shares of First Interstate BancSystem during the 2nd quarter worth approximately $102,890,000. Finally, Wellington Management Group LLP boosted its position in shares of First Interstate BancSystem by 31.6% during the 1st quarter. Wellington Management Group LLP now owns 3,193,047 shares of the financial services provider’s stock worth $91,481,000 after purchasing an additional 767,432 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

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.