Insider Selling: First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Sells 6,500 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Jonathan R. Scott sold 6,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the transaction, the director now owns 958,710 shares in the company, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK traded down $0.23 on Thursday, hitting $33.28. The company’s stock had a trading volume of 329,040 shares, compared to its average volume of 676,916. First Interstate BancSystem, Inc. has a 12-month low of $24.16 and a 12-month high of $34.53. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 14.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a 50 day moving average of $30.94 and a 200-day moving average of $29.22.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share 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 quarter last year, the business posted $0.70 earnings per share. As a group, research analysts predict that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date is Monday, November 4th. First Interstate BancSystem’s dividend payout ratio is presently 82.46%.

Hedge Funds Weigh In On First Interstate BancSystem

Several institutional investors and hedge funds have recently bought and sold shares of the stock. TNF LLC increased its position in First Interstate BancSystem by 1.5% during the third quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock worth $812,000 after purchasing an additional 367 shares during the last quarter. Caprock Group LLC increased its position in First Interstate BancSystem by 1.7% during the second quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 422 shares during the last quarter. Wrapmanager Inc. increased its position in First Interstate BancSystem by 5.0% during the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 429 shares during the last quarter. CWM LLC increased its position in First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 430 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in First Interstate BancSystem by 5.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 507 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FIBK has been the topic of a number of research analyst reports. 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 report on Monday, October 28th. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $30.00 to $28.00 in a report on Tuesday, October 1st. Keefe, Bruyette & Woods boosted their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, DA Davidson boosted their price objective 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, First Interstate BancSystem has an average rating of “Hold” and a consensus 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.