Jonathan Scott Sells 3,173 Shares of First Interstate BancSystem (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 3,173 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $36.20, for a total transaction of $114,862.60. Following the sale, the insider directly owned 937,851 shares in the company, valued at $33,950,206.20. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

First Interstate BancSystem Price Performance

Shares of First Interstate BancSystem stock traded up $1.04 during trading hours on Tuesday, reaching $37.09. The stock had a trading volume of 1,063,400 shares, compared to its average volume of 1,142,000. The stock’s 50 day moving average is $33.55 and its 200 day moving average is $31.90. The firm has a market capitalization of $3.82 billion, a PE ratio of 15.65 and a beta of 0.80. First Interstate BancSystem, Inc. has a twelve month low of $22.95 and a twelve month high of $37.15. The company has a current ratio of 0.74, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Thursday, November 6th. The financial services provider reported $0.69 EPS for the quarter. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%.The firm had revenue of $250.50 million for the quarter. Equities analysts expect that First Interstate BancSystem, Inc. will post 2.53 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 20th. Shareholders of record on Monday, November 10th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Monday, November 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 79.32%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. UBS Group reiterated a “neutral” rating and set a $37.00 target price on shares of First Interstate BancSystem in a research report on Tuesday. Weiss Ratings reissued a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Monday, December 29th. Barclays increased their price objective on shares of First Interstate BancSystem from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Friday, December 19th. DA Davidson lifted their target price on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, Wall Street Zen downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.29.

Institutional Investors Weigh In On First Interstate BancSystem

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Corp acquired a new stake in shares of First Interstate BancSystem in the third quarter valued at about $26,000. GAMMA Investing LLC grew its stake in First Interstate BancSystem by 186.5% during the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 647 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 862 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in First Interstate BancSystem by 1,485.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,500 shares during the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new position in First Interstate BancSystem in the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.