Jonathan Scott Sells 685 Shares of First Interstate BancSystem (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 685 shares of the stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $31.66, for a total value of $21,687.10. Following the completion of the sale, the insider directly owned 952,824 shares of the company’s stock, valued at approximately $30,166,407.84. This trade represents a 0.07% decrease in their ownership of the stock. The sale 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 shares are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock opened at $30.36 on Friday. The company has a market cap of $3.18 billion, a PE ratio of 13.68 and a beta of 0.79. First Interstate BancSystem, Inc. has a 52 week low of $22.95 and a 52 week high of $36.77. The business has a 50 day moving average price of $31.61 and a 200-day moving average price of $29.12. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.19.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.57 by $0.12. The firm had revenue of $248.30 million during the quarter, compared to the consensus estimate of $253.73 million. First Interstate BancSystem had a return on equity of 6.82% and a net margin of 16.04%.The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. Equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Monday, August 11th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 84.68%.

Hedge Funds Weigh In On First Interstate BancSystem

Several institutional investors and hedge funds have recently bought and sold shares of FIBK. JNBA Financial Advisors bought a new position in First Interstate BancSystem during the first quarter valued at $29,000. GAMMA Investing LLC boosted its holdings in shares of First Interstate BancSystem by 186.5% in the second quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 647 shares during the period. Quarry LP boosted its holdings in shares of First Interstate BancSystem by 63.8% in the first quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 450 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of First Interstate BancSystem by 139.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 862 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of First Interstate BancSystem by 1,258.8% in the first quarter. Exchange Traded Concepts LLC now owns 4,851 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 4,494 shares during the period. 88.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on FIBK shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Wednesday. DA Davidson increased their price target on First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Keefe, Bruyette & Woods raised First Interstate BancSystem from a “hold” rating to a “moderate buy” rating and set a $32.00 price target for the company in a research report on Monday, June 23rd. Wall Street Zen downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Monday, August 11th. Finally, Wells Fargo & Company increased their price target on First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.43.

About First Interstate BancSystem

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.