First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Sells $101,628.00 in Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Julie Scott sold 2,700 shares of First Interstate BancSystem stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $37.64, for a total value of $101,628.00. Following the transaction, the insider directly owned 484,309 shares in the company, valued at approximately $18,229,390.76. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Stock Down 1.4%

Shares of NASDAQ FIBK traded down $0.54 during mid-day trading on Wednesday, reaching $36.92. The company had a trading volume of 1,977,023 shares, compared to its average volume of 852,011. The stock has a fifty day moving average of $37.95 and a two-hundred day moving average of $36.16. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 11.36 and a beta of 0.75. First Interstate BancSystem, Inc. has a 12-month low of $29.10 and a 12-month high of $40.60.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. As a group, equities research analysts expect that First Interstate BancSystem, Inc. will post 2.84 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Tuesday, August 4th. First Interstate BancSystem’s payout ratio is currently 57.85%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FIBK shares. Weiss Ratings upgraded First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Wells Fargo & Company restated an “underweight” rating and issued a $34.00 target price (down from $36.00) on shares of First Interstate BancSystem in a research note on Monday, August 10th. Barclays lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $38.00 to $37.00 in a research report on Monday, August 3rd. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Monday, June 22nd. Finally, DA Davidson reissued a “neutral” rating and issued a $39.00 price target on shares of First Interstate BancSystem in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, First Interstate BancSystem has a consensus rating of “Reduce” and an average price target of $36.83.

Institutional Investors Weigh In On First Interstate BancSystem

Several institutional investors and hedge funds have recently modified their holdings of FIBK. Integrated Wealth Concepts LLC bought a new position in First Interstate BancSystem in the 2nd quarter worth $26,000. NewEdge Advisors LLC bought a new stake in First Interstate BancSystem during the second quarter valued at about $232,000. IFP Advisors Inc grew its position in shares of First Interstate BancSystem by 3,833.3% in the second quarter. IFP Advisors Inc now owns 3,422 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 3,335 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of First Interstate BancSystem by 3.0% in the second quarter. Squarepoint Ops LLC now owns 124,773 shares of the financial services provider’s stock valued at $4,811,000 after purchasing an additional 3,643 shares during the last quarter. Finally, Amundi grew its position in shares of First Interstate BancSystem by 97.0% in the second quarter. Amundi now owns 49,196 shares of the financial services provider’s stock valued at $1,897,000 after purchasing an additional 24,220 shares during the last quarter. Institutional investors and hedge funds 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, governmental entities and nonprofit organizations.

Its products and services include personal and business deposit accounts, consumer and commercial lending, mortgage banking, treasury management, online and mobile banking, investment services, and wealth management.