First Interstate BancSystem (NASDAQ:FIBK) Stock: Insider Jonathan Scott Sells 10,000 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 10,000 shares of the firm’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 sale, the insider owned 797,738 shares of the company’s stock, valued at approximately $30,736,845.14. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $37.80 on Thursday. The firm has a 50-day moving average price of $36.64 and a 200-day moving average price of $36.34. The firm has a market capitalization of $3.50 billion, a PE ratio of 11.84 and a beta of 0.73. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.09. First Interstate BancSystem, Inc. has a 12-month low of $29.39 and a 12-month high of $40.60.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results 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 net margin of 23.30% and a return on equity of 9.49%. The firm had revenue of $43.30 million for the quarter, compared to the consensus estimate of $247.93 million. As a group, equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.79 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, November 3rd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 3rd. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 58.57%.

Analysts Set New Price Targets

Several brokerages recently issued reports on FIBK. Wall Street Zen cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Interstate BancSystem in a report on Monday, September 28th. DA Davidson restated a “neutral” rating and issued a $39.00 price objective on shares of First Interstate BancSystem in a report on Monday, July 27th. Wells Fargo & Company increased their target price on shares of First Interstate BancSystem from $34.00 to $36.00 and gave the stock an “underweight” rating in a report on Monday. Finally, Barclays increased their target price on First Interstate BancSystem from $37.00 to $38.00 and gave the company an “underweight” rating in a research report on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $37.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new position in shares of First Interstate BancSystem during the second quarter worth about $26,000. Root Financial Partners LLC acquired a new position in shares of First Interstate BancSystem during the 3rd quarter worth about $25,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of First Interstate BancSystem during the 3rd quarter worth about $28,000. Fulcrum Asset Management LLP raised 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 worth $50,000 after acquiring an additional 1,036 shares in the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of First Interstate BancSystem during the 2nd quarter worth about $62,000. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Company Profile

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.