First Interstate BancSystem (NASDAQ:FIBK) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

First Interstate BancSystem, Inc. (NASDAQ:FIBK)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $36.10 and traded as high as $37.77. First Interstate BancSystem shares last traded at $37.53, with a volume of 878,865 shares changing hands.

Analyst Ratings Changes

Several brokerages have issued reports on FIBK. Weiss Ratings raised First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Wall Street Zen raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Monday, June 22nd. UBS Group increased their price objective on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Friday, May 1st. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $38.00 to $37.00 in a research note on Monday. Finally, DA Davidson reissued a “neutral” rating and set a $39.00 price objective on shares of First Interstate BancSystem in a report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $37.17.

First Interstate BancSystem Trading Up 0.3%

The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.09. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 11.55 and a beta of 0.76. The company’s 50-day moving average is $37.71 and its 200 day moving average is $36.10.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.18. The business had revenue of $263.90 million during the quarter, compared to analysts’ expectations of $249.32 million. First Interstate BancSystem had a net margin of 23.63% and a return on equity of 9.55%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 earnings per share. Research analysts predict that First Interstate BancSystem, Inc. will post 2.84 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Tuesday, August 4th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, August 4th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 57.85%.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 4,500 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $36.29, for a total value of $163,305.00. Following the completion of the transaction, the insider owned 862,128 shares in the company, valued at $31,286,625.12. The trade was a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Julie A. Scott sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.97, for a total value of $539,550.00. Following the completion of the sale, the insider owned 488,359 shares in the company, valued at approximately $17,566,273.23. This represents a 2.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,392 shares of company stock worth $1,161,552 over the last quarter. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FIBK. Louisiana State Employees Retirement System purchased a new stake in First Interstate BancSystem in the 1st quarter valued at approximately $1,303,000. State of Alaska Department of Revenue grew its position in shares of First Interstate BancSystem by 1,104.9% in the fourth quarter. State of Alaska Department of Revenue now owns 49,857 shares of the financial services provider’s stock valued at $1,724,000 after purchasing an additional 45,719 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of First Interstate BancSystem in the fourth quarter valued at approximately $2,127,000. SG Americas Securities LLC increased its stake in shares of First Interstate BancSystem by 43.5% during the 1st quarter. SG Americas Securities LLC now owns 108,497 shares of the financial services provider’s stock worth $3,624,000 after purchasing an additional 32,914 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC increased its stake in shares of First Interstate BancSystem by 15.1% during the 1st quarter. Villere ST Denis J & Co. LLC now owns 627,031 shares of the financial services provider’s stock worth $20,943,000 after purchasing an additional 82,117 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.