First Interstate BancSystem Inc. (FIBK) Sees Large Volume Increase
Shares of First Interstate BancSystem Inc. (NASDAQ:FIBK) saw unusually-strong trading volume on Thursday . Approximately 82,817 shares traded hands during mid-day trading, an increase of 28% from the previous session’s volume of 64,893 shares.The stock last traded at $30.31 and had previously closed at $30.22.
A number of analysts recently weighed in on FIBK shares. B. Riley restated a “sell” rating on shares of First Interstate BancSystem in a report on Monday, May 2nd. Zacks Investment Research upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Monday, May 23rd. FIG Partners restated a “market perform” rating on shares of First Interstate BancSystem in a report on Wednesday, July 27th. Finally, Barclays PLC restated a “buy” rating and set a $31.00 target price on shares of First Interstate BancSystem in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $30.25.
The company’s 50 day moving average is $29.23 and its 200 day moving average is $28.15. The stock has a market capitalization of $1.36 billion and a price-to-earnings ratio of 15.33.
First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Monday, July 25th. The financial services provider reported $0.52 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.52. Analysts forecast that First Interstate BancSystem Inc. will post $2.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Monday, August 1st were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.90%. This is a positive change from First Interstate BancSystem’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, July 28th.
In other news, Director Jonathan R. Scott sold 960 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $30.20, for a total value of $28,992.00. Following the sale, the director now owns 49,858 shares of the company’s stock, valued at $1,505,711.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin P. Riley acquired 2,676 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was acquired at an average cost of $29.71 per share, for a total transaction of $79,503.96. Following the transaction, the chief executive officer now owns 33,968 shares of the company’s stock, valued at $1,009,189.28. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in First Interstate BancSystem stock. Bank of Montreal Can raised its position in First Interstate BancSystem Inc. (NASDAQ:FIBK) by 2,876.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,869 shares of the financial services provider’s stock after buying an additional 55,925 shares during the period. Bank of Montreal Can owned about 0.13% of First Interstate BancSystem worth $1,683,000 at the end of the most recent reporting period.
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company operates through community banking segment.
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