Insider Selling: First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Sells $385,300.00 in Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 10,000 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $38.53, for a total value of $385,300.00. Following the completion of the transaction, the insider owned 797,738 shares of the company’s stock, valued at $30,736,845.14. This represents a 1.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Trading Down 0.3%

Shares of NASDAQ:FIBK opened at $37.67 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.68 and a quick ratio of 0.68. First Interstate BancSystem, Inc. has a 1 year low of $29.39 and a 1 year high of $40.60. The company has a market cap of $3.49 billion, a P/E ratio of 11.78 and a beta of 0.73. The stock’s fifty day moving average price is $36.65 and its 200-day moving average price is $36.34.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.03). First Interstate BancSystem had a return on equity of 9.49% and a net margin of 23.30%. The business had revenue of $43.30 million during the quarter, compared to the consensus estimate of $247.93 million. Sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.79 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, November 3rd will be issued 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, November 3rd. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 58.57%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in First Interstate BancSystem in the second quarter worth about $26,000. Root Financial Partners LLC purchased a new stake in shares of First Interstate BancSystem during the 3rd quarter valued at about $25,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of First Interstate BancSystem during the 3rd quarter valued at about $28,000. Fulcrum Asset Management LLP increased its position in shares of First Interstate BancSystem by 294.3% during the 3rd quarter. Fulcrum Asset Management LLP now owns 1,388 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,036 shares during the last quarter. Finally, Allworth Financial LP purchased a new stake in shares of First Interstate BancSystem during the 2nd quarter valued at about $62,000. Institutional investors own 88.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FIBK. Stephens lifted their price target on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 29th. Wells Fargo & Company increased their price objective on shares of First Interstate BancSystem from $34.00 to $36.00 and gave the company an “underweight” rating in a research report on Monday. Benchmark upgraded shares of First Interstate BancSystem to a “hold” rating in a report on Wednesday, September 23rd. DA Davidson restated a “neutral” rating and issued a $39.00 target price on shares of First Interstate BancSystem in a report on Monday, July 27th. Finally, Barclays lifted their target price on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a research report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, First Interstate BancSystem presently has an average rating of “Reduce” and an average target price of $37.43.

About First Interstate BancSystem

First Interstate BancSystem, Inc. is a financial holding company whose principal subsidiary is First Interstate Bank. The bank provides personal, business and agricultural banking services, including deposit accounts, loans, mortgage lending and treasury management. Its other offerings include wealth management, trust and investment services, and insurance. The company serves individuals, businesses and communities across a multistate footprint in the western and north-central United States. Established in Montana in 1968, First Interstate BancSystem has grown through the development of its banking operations and acquisitions.