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

First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Free Report) Director James Scott, Jr. sold 3,108 shares of the stock in a transaction that occurred 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. The trade was a 3.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Interstate BancSystem Price Performance

NASDAQ:FIBK traded down $1.00 during mid-day trading on Tuesday, reaching $37.73. 459,959 shares of the company were exchanged, compared to its average volume of 1,158,353. The company has a quick ratio of 0.69, a current 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 has a market cap of $3.60 billion, a PE ratio of 11.75 and a beta of 0.73. The company has a fifty day moving average of $36.48 and a 200 day moving average of $36.30.

First Interstate BancSystem (NASDAQ:FIBK – Get Free Report) last posted its earnings results on Thursday, October 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). First Interstate BancSystem had a net margin of 29.18% and a return on equity of 9.49%. The business had revenue of $43.30 million during the quarter, compared to analyst estimates of $247.93 million. On average, research analysts anticipate that First Interstate BancSystem, Inc. will post 2.79 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders 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 yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 3rd. First Interstate BancSystem’s payout ratio is currently 58.57%.

Analyst Upgrades and Downgrades

FIBK has been the subject of a number of analyst reports. Barclays increased their price objective on First Interstate BancSystem from $37.00 to $38.00 and gave the company an “underweight” rating in a research note on Monday, October 5th. Weiss Ratings restated a “buy (b)” rating on shares of First Interstate BancSystem in a research report on Monday, September 28th. Benchmark raised First Interstate BancSystem to a “hold” rating in a research note on Wednesday, September 23rd. Stephens raised their target price on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, October 29th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $39.00 price objective on shares of First Interstate BancSystem in a research note on Monday, July 27th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, First Interstate BancSystem presently has a consensus rating of “Reduce” and a consensus price target of $37.14.

Read Our Latest Report on FIBK

Institutional Trading of First Interstate BancSystem

Several large investors have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new position in First Interstate BancSystem during the 4th quarter valued at about $2,127,000. The Manufacturers Life Insurance Company bought a new position in First Interstate BancSystem during the second quarter worth about $1,776,000. Rice Hall James & Associates LLC acquired a new position in shares of First Interstate BancSystem during the second quarter worth approximately $3,853,000. BlackRock Inc. acquired a new position in shares of First Interstate BancSystem in the second quarter valued at approximately $529,533,000. Finally, Bank of America Corp DE bought a new position in First Interstate BancSystem during the second quarter worth $56,386,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

About First Interstate BancSystem

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for First Interstate BancSystem (NASDAQ:FIBK)

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