First Interstate BancSystem, Inc. (NASDAQ:FIBK) Major Shareholder James R. Scott, Jr. Sells 6,067 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder James R. Scott, Jr. sold 6,067 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the transaction, 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 SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Price Performance

Shares of First Interstate BancSystem stock opened at $35.47 on Tuesday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 15.24 and a beta of 0.81. The company has a fifty day moving average of $31.51 and a 200-day moving average of $29.53. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.19. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the firm earned $0.70 EPS. Equities research analysts expect that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a $0.47 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.30%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 82.46%.

Institutional Trading of First Interstate BancSystem

Institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in First Interstate BancSystem during the 3rd quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of First Interstate BancSystem in the third quarter valued at about $69,000. CWM LLC raised its stake in shares of First Interstate BancSystem by 16.0% during 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 during the last quarter. Innealta Capital LLC purchased a new stake in shares of First Interstate BancSystem during the second quarter worth about $106,000. Finally, nVerses Capital LLC grew its stake 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 worth $114,000 after purchasing an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analyst Ratings Changes

FIBK has been the topic of a number of research analyst reports. Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Piper Sandler decreased their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $32.00 to $30.00 in a research report on Thursday, October 31st. DA Davidson increased their price target on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Stephens reiterated an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.50.

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.