First Interstate BancSystem (NASDAQ:FIBK) Stock: Insider Jonathan Scott Sells 4,175 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 4,175 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $37.31, for a total transaction of $155,769.25. Following the completion of the transaction, the insider owned 807,738 shares of the company’s stock, valued at $30,136,704.78. This represents a 0.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Trading Up 0.4%

Shares of FIBK opened at $37.83 on Wednesday. The firm has a 50-day moving average price of $36.47 and a 200 day moving average price of $36.28. First Interstate BancSystem, Inc. has a 52-week low of $29.39 and a 52-week high of $40.60.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). The business had revenue of $249.50 million for the quarter, compared to the consensus estimate of $247.93 million. As a group, sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.87 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, November 3rd will be issued a $0.47 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $1.88 annualized dividend and a dividend yield of 5.0%.

Analyst Ratings Changes

Several brokerages recently commented on FIBK. Barclays boosted their target price on First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a report on Monday, October 5th. Benchmark raised First Interstate BancSystem to a “hold” rating in a research note on Wednesday, September 23rd. Wall Street Zen cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of First Interstate BancSystem in a research note on Monday, September 28th. Finally, DA Davidson reissued a “neutral” rating and issued a $39.00 price objective on shares of First Interstate BancSystem in a research note on Monday, July 27th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $37.00.

Hedge Funds Weigh In On First Interstate BancSystem

Several large investors have recently made changes to their positions in FIBK. BlackRock Inc. bought a new stake in shares of First Interstate BancSystem in the 2nd quarter worth approximately $529,533,000. Dimensional Fund Advisors LP boosted its holdings in First Interstate BancSystem by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,630,789 shares of the financial services provider’s stock worth $188,066,000 after buying an additional 231,405 shares in the last quarter. Bank of America Corp DE boosted its holdings in First Interstate BancSystem by 1.4% during the first quarter. Bank of America Corp DE now owns 1,778,094 shares of the financial services provider’s stock worth $59,388,000 after buying an additional 24,250 shares in the last quarter. First Trust Advisors LP boosted its holdings in First Interstate BancSystem by 214.9% during the first quarter. First Trust Advisors LP now owns 1,197,557 shares of the financial services provider’s stock worth $39,998,000 after buying an additional 817,235 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in First Interstate BancSystem during the second quarter worth approximately $38,663,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides community banking services to individuals, businesses, agricultural customers and governmental entities.

First Interstate Bank offers deposit accounts, consumer and commercial loans, mortgage lending, credit cards, cash-management and treasury-management services, online and mobile banking, and wealth-management and investment services.