Insider Selling: First Interstate BancSystem, Inc. (NASDAQ:FIBK) Major Shareholder Sells 22,050 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Julie A. Scott sold 22,050 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the transaction, the insider now directly owns 613,019 shares of the company’s stock, valued at approximately $20,720,042.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Stock Down 0.7 %

NASDAQ:FIBK opened at $33.51 on Thursday. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $34.53. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 14.70 and a beta of 0.81. The stock has a fifty day simple moving average of $30.87 and a 200-day simple moving average of $29.19. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same period in the prior year, the company earned $0.70 EPS. Analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.61%. First Interstate BancSystem’s dividend payout ratio (DPR) is 82.46%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FIBK shares. Piper Sandler cut their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, October 28th. DA Davidson lifted their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $32.00 to $30.00 in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.50.

Institutional Trading of First Interstate BancSystem

Several institutional investors and hedge funds have recently made changes to their positions in FIBK. CWM LLC raised its holdings in shares of First Interstate BancSystem by 16.0% in the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 430 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of First Interstate BancSystem in the second quarter valued at about $106,000. nVerses Capital LLC raised its holdings in shares of First Interstate BancSystem by 412.5% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 3,300 shares in the last quarter. Telos Capital Management Inc. bought a new stake in shares of First Interstate BancSystem in the third quarter valued at about $201,000. Finally, Washington Trust Bank bought a new stake in shares of First Interstate BancSystem in the second quarter valued at about $204,000. 88.71% of the stock is currently owned by institutional investors.

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.