First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Free Report) major shareholder Julie Scott sold 2,700 shares of First Interstate BancSystem stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $37.64, for a total value of $101,628.00. Following the completion of the transaction, the insider directly owned 484,309 shares in the company, valued at approximately $18,229,390.76. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major 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 Stock Performance
Shares of FIBK traded down $0.54 during mid-day trading on Wednesday, hitting $36.92. The company’s stock had a trading volume of 1,977,023 shares, compared to its average volume of 852,011. First Interstate BancSystem, Inc. has a one year low of $29.10 and a one year high of $40.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $3.52 billion, a PE ratio of 11.36 and a beta of 0.75. The stock’s 50-day moving average is $37.95 and its two-hundred day moving average is $36.16.
First Interstate BancSystem (NASDAQ:FIBK – Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.18. The business had revenue of $263.90 million for the quarter, compared to analyst estimates of $249.32 million. First Interstate BancSystem had a net margin of 23.63% and a return on equity of 9.55%. First Interstate BancSystem’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. As a group, sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.84 EPS for the current year.
First Interstate BancSystem Announces Dividend
Analyst Upgrades and Downgrades
Several research analysts recently commented on FIBK shares. 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 upgraded shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Wells Fargo & Company reaffirmed an “underweight” rating and set a $34.00 price objective (down from $36.00) on shares of First Interstate BancSystem in a report on Monday, August 10th. Wall Street Zen raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Monday, June 22nd. Finally, Barclays cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $38.00 to $37.00 in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $36.83.
Read Our Latest Research Report on FIBK
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC acquired a new stake in First Interstate BancSystem in the 2nd quarter valued at about $26,000. Eurizon Capital SGR S.p.A. bought a new position in shares of First Interstate BancSystem in the fourth quarter worth about $25,000. Allworth Financial LP acquired a new position in shares of First Interstate BancSystem during the second quarter worth approximately $62,000. Public Employees Retirement System of Ohio acquired a new position in shares of First Interstate BancSystem during the second quarter worth approximately $65,000. Finally, SJS Investment Consulting Inc. grew its stake in shares of First Interstate BancSystem by 15,876.9% during 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.
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, governmental entities and nonprofit organizations.
Its products and services include personal and business deposit accounts, consumer and commercial lending, mortgage banking, treasury management, online and mobile banking, investment services, and wealth management.
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