First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Jonathan Scott Sells 1,827 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 1,827 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $36.92, for a total transaction of $67,452.84. Following the sale, the insider owned 936,024 shares in the company, valued at approximately $34,558,006.08. This trade represents a 0.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 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 $37.09 on Wednesday. The firm has a market capitalization of $3.82 billion, a PE ratio of 15.65 and a beta of 0.80. 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, Inc. has a 12 month low of $22.95 and a 12 month high of $37.15. The business’s 50-day moving average price is $33.55 and its 200-day moving average price is $31.90.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.69 EPS for the quarter. The firm had revenue of $250.50 million for the quarter. First Interstate BancSystem had a net margin of 17.62% and a return on equity of 7.25%. Sell-side analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Monday, November 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is 79.32%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group restated a “neutral” rating and set a $37.00 price target on shares of First Interstate BancSystem in a research report on Tuesday. DA Davidson increased their price objective on First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Keefe, Bruyette & Woods lifted their target price on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Barclays increased their price target on shares of First Interstate BancSystem from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Friday, December 19th. Finally, Wells Fargo & Company boosted their price objective on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $37.29.

Institutional Trading of First Interstate BancSystem

A number of large investors have recently made changes to their positions in FIBK. Vanguard Group Inc. raised its holdings in shares of First Interstate BancSystem by 0.7% during the third quarter. Vanguard Group Inc. now owns 8,833,965 shares of the financial services provider’s stock valued at $281,538,000 after purchasing an additional 64,371 shares during the last quarter. Wellington Management Group LLP grew its position in First Interstate BancSystem by 20.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,915,425 shares of the financial services provider’s stock worth $188,525,000 after purchasing an additional 1,003,021 shares during the period. Dimensional Fund Advisors LP raised its stake in First Interstate BancSystem by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,495,403 shares of the financial services provider’s stock valued at $175,140,000 after buying an additional 78,835 shares during the last quarter. State Street Corp lifted its holdings in shares of First Interstate BancSystem by 2.3% during the 2nd quarter. State Street Corp now owns 4,050,473 shares of the financial services provider’s stock valued at $116,735,000 after buying an additional 92,715 shares during the period. Finally, HoldCo Asset Management LP lifted its holdings in shares of First Interstate BancSystem by 10.6% during the 3rd quarter. HoldCo Asset Management LP now owns 3,950,107 shares of the financial services provider’s stock valued at $125,890,000 after buying an additional 380,000 shares during the period. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Company Profile

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.