First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Jonathan Scott Sells 5,000 Shares of Company Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $36.90, for a total transaction of $184,500.00. Following the transaction, the insider directly owned 812,738 shares of the company’s stock, valued at approximately $29,990,032.20. This represents a 0.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 Trading Down 0.3%

Shares of FIBK stock opened at $36.78 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $3.51 billion, a P/E ratio of 11.46 and a beta of 0.73. The firm’s 50-day simple moving average is $36.50 and its 200-day simple moving average is $36.55. First Interstate BancSystem, Inc. has a 1-year low of $29.39 and a 1-year high of $40.60.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). First Interstate BancSystem had a net margin of 23.63% and a return on equity of 9.33%. The firm had revenue of $249.50 million during the quarter, compared to analyst estimates of $247.93 million. As a group, equities analysts forecast that First Interstate BancSystem, Inc. will post 2.88 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 issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, November 3rd. First Interstate BancSystem’s dividend payout ratio is currently 57.85%.

Wall Street Analysts Forecast Growth

FIBK has been the subject of several analyst reports. DA Davidson reaffirmed a “neutral” rating and issued a $39.00 target price on shares of First Interstate BancSystem in a research report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Interstate BancSystem in a report on Monday, September 28th. Barclays boosted their price target on First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a research report on Monday, October 5th. Wells Fargo & Company restated an “underweight” rating and issued a $34.00 price target (down from $36.00) on shares of First Interstate BancSystem in a report on Monday, August 10th. Finally, Wall Street Zen downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $37.00.

Hedge Funds Weigh In On First Interstate BancSystem

Institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in shares of First Interstate BancSystem during the third quarter valued at about $25,000. Integrated Wealth Concepts LLC acquired a new position in shares of First Interstate BancSystem in the second quarter worth about $26,000. Allworth Financial LP acquired a new position in shares of First Interstate BancSystem in the second quarter worth about $62,000. Public Employees Retirement System of Ohio purchased a new position in First Interstate BancSystem in the second quarter valued at about $65,000. Finally, SJS Investment Consulting Inc. boosted its holdings in First Interstate BancSystem by 15,876.9% in the first quarter. SJS Investment Consulting Inc. now owns 2,077 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 2,064 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Key Stories Impacting First Interstate BancSystem

Here are the key news stories impacting First Interstate BancSystem this week:

• Positive Sentiment: First Interstate declared a quarterly dividend of $0.47 per share, equivalent to $1.88 annually and a yield of approximately 5.2%. The dividend supports the stock’s income appeal. First Interstate dividend information
• Positive Sentiment: Third-quarter revenue totaled $249.5 million, slightly exceeding analyst expectations of $247.93 million. Net interest margin also improved to 3.53%, a potentially encouraging sign for future earnings if sustained. First Interstate third-quarter earnings release
• Neutral Sentiment: Major shareholder Jonathan Scott sold 5,000 shares for approximately $184,500. The sale reduced his holdings by only 0.61%, leaving him with 812,738 shares, so the transaction is relatively small compared with his remaining stake. SEC insider ownership filing
• Negative Sentiment: FIBK reported third-quarter earnings of $0.65 per diluted share, missing consensus estimates, which ranged from roughly $0.70 to $0.92 depending on the data provider. Net income fell to $62.2 million from $71.4 million a year earlier, while earnings declined to $0.65 from $0.69 per share. First Interstate earnings flash
• Negative Sentiment: Investors remain concerned about weak core earnings growth, a contracting loan portfolio and a declining asset base. These trends suggest that improved margins have not yet translated into stronger overall operating performance relative to regional-bank peers. First Interstate Q3 analysis

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.