First Interstate BancSystem, Inc. (NASDAQ:FIBK) Short Interest Up 7.7% in January

First Interstate BancSystem, Inc. (NASDAQ:FIBK) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 2,510,000 shares, a growth of 7.7% from the December 31st total of 2,330,000 shares. Based on an average daily volume of 633,900 shares, the days-to-cover ratio is currently 4.0 days.

Insider Activity

In related news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the completion of the sale, the insider now directly owns 75,387 shares in the company, valued at approximately $2,600,851.50. The trade was a 7.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Julie A. Scott sold 22,050 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the sale, the insider now owns 613,019 shares of the company’s stock, valued at $20,720,042.20. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,837 shares of company stock worth $1,839,583. 6.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new position in First Interstate BancSystem in the 3rd quarter worth approximately $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of First Interstate BancSystem during the third quarter valued at $69,000. KBC Group NV increased its position in First Interstate BancSystem by 34.1% in the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,022 shares during the period. CWM LLC raised its holdings in First Interstate BancSystem by 65.0% during the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 2,029 shares during the last quarter. Finally, Telos Capital Management Inc. acquired a new position in First Interstate BancSystem during the 3rd quarter valued at about $201,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Trading Down 3.6 %

FIBK stock opened at $31.75 on Tuesday. First Interstate BancSystem has a 1-year low of $24.16 and a 1-year high of $36.77. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $33.10 and its 200-day moving average is $31.61. The firm has a market cap of $3.32 billion, a P/E ratio of 14.50 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. Equities analysts anticipate that First Interstate BancSystem will post 2.54 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 10th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a yield of 5.92%. First Interstate BancSystem’s dividend payout ratio is 85.85%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FIBK shares. StockNews.com cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. DA Davidson reiterated a “buy” rating and issued a $42.00 target price on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Stephens lowered their price target on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods raised their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler lowered their price objective on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and a consensus target price of $36.14.

First Interstate BancSystem Company Profile

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.