First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Julie Scott Sells 2,700 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Julie Scott sold 2,700 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $37.64, for a total transaction of $101,628.00. Following the sale, the insider directly owned 484,309 shares in the company, valued at approximately $18,229,390.76. The trade was a 0.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Stock Performance

Shares of NASDAQ:FIBK opened at $36.92 on Thursday. The firm has a fifty day simple moving average of $37.95 and a two-hundred day simple moving average of $36.16. First Interstate BancSystem, Inc. has a 52 week low of $29.10 and a 52 week high of $40.60. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $3.52 billion, a P/E ratio of 11.36 and a beta of 0.75.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.18. The firm had revenue of $263.90 million during the quarter, compared to the consensus estimate of $249.32 million. First Interstate BancSystem had a net margin of 23.63% and a return on equity of 9.55%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 EPS. On average, analysts expect that First Interstate BancSystem, Inc. will post 2.84 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th were issued a $0.47 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.1%. First Interstate BancSystem’s payout ratio is 57.85%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $38.00 to $37.00 in a research report on Monday, August 3rd. 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. Wells Fargo & Company restated an “underweight” rating and set a $34.00 target price (down from $36.00) on shares of First Interstate BancSystem in a research report on Monday, August 10th. DA Davidson reaffirmed a “neutral” rating and set a $39.00 target price on shares of First Interstate BancSystem in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $36.83.

Institutional Investors Weigh In On First Interstate BancSystem

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIBK. Integrated Wealth Concepts LLC bought a new position in First Interstate BancSystem in the 2nd quarter worth about $26,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of First Interstate BancSystem in the fourth quarter valued at approximately $25,000. Allworth Financial LP bought a new position in First Interstate BancSystem in the second quarter worth approximately $62,000. Public Employees Retirement System of Ohio purchased a new position in shares of First Interstate BancSystem during the second quarter valued at $65,000. Finally, SJS Investment Consulting Inc. raised its holdings in shares of First Interstate BancSystem by 15,876.9% in the 1st 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 in the last quarter. Institutional investors 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.