First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Sells $222,170.00 in Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the transaction, the director now owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

First Interstate BancSystem Stock Down 0.4 %

Shares of NASDAQ FIBK opened at $33.14 on Friday. The business has a 50-day simple moving average of $31.09 and a two-hundred day simple moving average of $29.29. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $34.53. The company has a market cap of $3.46 billion, a P/E ratio of 14.54 and a beta of 0.81. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter in the previous year, the firm posted $0.70 EPS. Research analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.47 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.67%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 82.46%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FIBK. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Barclays downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $32.00 to $30.00 in a research note on Thursday, October 31st. Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $30.00 to $28.00 in a research note on Tuesday, October 1st. Stephens reissued an “overweight” rating and issued a $36.00 price objective on shares of First Interstate BancSystem in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.50.

Institutional Investors Weigh In On First Interstate BancSystem

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in shares of First Interstate BancSystem by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock valued at $61,152,000 after acquiring an additional 59,367 shares in the last quarter. Barclays PLC increased its position in shares of First Interstate BancSystem by 18.6% in the third quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock worth $6,326,000 after purchasing an additional 32,298 shares during the last quarter. Jane Street Group LLC raised its stake in First Interstate BancSystem by 13.9% in the third quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider’s stock valued at $5,770,000 after purchasing an additional 22,899 shares in the last quarter. Wellington Management Group LLP grew its stake in First Interstate BancSystem by 6.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock worth $39,522,000 after buying an additional 78,596 shares in the last quarter. Finally, Systematic Financial Management LP bought a new position in shares of First Interstate BancSystem in the 3rd quarter worth $840,000. Institutional investors own 88.71% of the company’s stock.

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.