First Interstate BancSystem (NASDAQ:FIBK) Stock: Insider James Scott, Jr. Sells 3,108 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director James Scott, Jr. sold 3,108 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $38.00, for a total value of $118,104.00. Following the sale, the director owned 77,634 shares of the company’s stock, valued at approximately $2,950,092. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

First Interstate BancSystem Trading Up 3.9%

Shares of FIBK stock opened at $39.10 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.69 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. The stock’s 50-day moving average price is $36.53 and its 200-day moving average price is $36.32. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 11.72 and a beta of 0.73.

First Interstate BancSystem (NASDAQ:FIBK) last posted 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 return on equity of 9.49% and a net margin of 23.30%. The company had revenue of $43.30 million for the quarter, compared to analysts’ expectations of $247.93 million. Equities research analysts predict that First Interstate BancSystem, Inc. will post 2.79 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

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 4.8%. The ex-dividend date of this dividend is Tuesday, November 3rd. First Interstate BancSystem’s payout ratio is presently 58.57%.

Hedge Funds Weigh In On First Interstate BancSystem

Several institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC purchased a new position in First Interstate BancSystem during the third quarter worth about $25,000. Integrated Wealth Concepts LLC bought a new position in First Interstate BancSystem in the 2nd quarter worth $26,000. Fulcrum Asset Management LLP increased its stake in 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 in the last quarter. Allworth Financial LP bought a new stake in shares of First Interstate BancSystem in the second quarter worth approximately $62,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of First Interstate BancSystem in the second quarter worth approximately $65,000. 88.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FIBK has been the topic of a number of research reports. Barclays increased their target price on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a report on Monday, October 5th. Benchmark upgraded shares of First Interstate BancSystem to a “hold” rating in a research note on Wednesday, September 23rd. Wall Street Zen lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. DA Davidson reiterated a “neutral” rating and issued a $39.00 price objective on shares of First Interstate BancSystem in a research report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Interstate BancSystem in a report on Monday, September 28th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $37.14.

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.