Julie Scott Sells 2,700 Shares of First Interstate BancSystem (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Julie Scott sold 2,700 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $37.64, for a total transaction of $101,628.00. Following the completion of the transaction, the insider owned 484,309 shares in the company, valued at $18,229,390.76. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock opened at $37.16 on Friday. The firm has a fifty day moving average of $37.92 and a two-hundred day moving average of $36.18. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 11.43 and a beta of 0.75. First Interstate BancSystem, Inc. has a 52 week low of $29.10 and a 52 week high of $40.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.69 and a current ratio of 0.69.

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

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th were given 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 presently 57.85%.

Hedge Funds Weigh In On First Interstate BancSystem

Several institutional investors and hedge funds have recently modified their holdings of the business. Eurizon Capital SGR S.p.A. acquired a new stake in shares of First Interstate BancSystem during the fourth quarter worth $25,000. Integrated Wealth Concepts LLC acquired a new position in First Interstate BancSystem in the 2nd quarter worth $26,000. Allworth Financial LP bought a new position in First Interstate BancSystem during the 2nd quarter worth about $62,000. Public Employees Retirement System of Ohio bought a new position in First Interstate BancSystem during the 2nd quarter worth about $65,000. Finally, SJS Investment Consulting Inc. increased its holdings in First Interstate BancSystem by 15,876.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 2,077 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 2,064 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FIBK shares. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $38.00 to $37.00 in a research note on Monday, August 3rd. Weiss Ratings raised shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Wells Fargo & Company reiterated an “underweight” rating and issued a $34.00 target price (down from $36.00) on shares of First Interstate BancSystem in a report on Monday, August 10th. Wall Street Zen raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research 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 report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $36.83.

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.