Insider Selling: First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Sells $155,769.25 in Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 4,175 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $37.31, for a total value of $155,769.25. Following the completion of the sale, the insider owned 807,738 shares of the company’s stock, valued at $30,136,704.78. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

First Interstate BancSystem Price Performance

FIBK opened at $37.56 on Thursday. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 11.70 and a beta of 0.73. First Interstate BancSystem, Inc. has a fifty-two week low of $29.39 and a fifty-two week high of $40.60. The company’s 50-day moving average price is $36.46 and its 200 day moving average price is $36.28. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Thursday, October 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). First Interstate BancSystem had a net margin of 29.18% and a return on equity of 9.49%. The company had revenue of $249.50 million during the quarter, compared to the consensus estimate of $247.93 million. As a group, sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.87 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, November 3rd will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 3rd. First Interstate BancSystem’s payout ratio is currently 58.57%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wall Street Zen lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. Benchmark raised shares of First Interstate BancSystem to a “hold” rating in a report on Wednesday, September 23rd. Wells Fargo & Company reissued an “underweight” rating and issued a $34.00 price target (down from $36.00) on shares of First Interstate BancSystem in a report on Monday, August 10th. DA Davidson restated a “neutral” rating and set a $39.00 price objective on shares of First Interstate BancSystem in a research report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Interstate BancSystem in a research note on Monday, September 28th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $37.00.

Institutional Investors Weigh In On First Interstate BancSystem

Several large investors have recently modified their holdings of FIBK. BlackRock Inc. purchased a new stake in shares of First Interstate BancSystem during the 2nd quarter worth about $529,533,000. Bank of America Corp DE bought a new stake in shares of First Interstate BancSystem in the 2nd quarter valued at approximately $56,386,000. Bank of New York Mellon Corp bought a new stake in shares of First Interstate BancSystem in the 2nd quarter valued at approximately $38,663,000. First Trust Advisors LP increased its holdings in First Interstate BancSystem by 214.9% in the first quarter. First Trust Advisors LP now owns 1,197,557 shares of the financial services provider’s stock worth $39,998,000 after buying an additional 817,235 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. acquired a new position in First Interstate BancSystem in the second quarter worth approximately $30,000,000. 88.71% of the stock is owned by institutional investors.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides community banking services to individuals, businesses, agricultural customers and governmental entities.

First Interstate Bank offers deposit accounts, consumer and commercial loans, mortgage lending, credit cards, cash-management and treasury-management services, online and mobile banking, and wealth-management and investment services.