First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Jonathan R. Scott Sells 6,500 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Jonathan R. Scott sold 6,500 shares of the company’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 completion of the transaction, the director now owns 958,710 shares in the company, valued at approximately $32,768,707.80. The trade was a 0.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

First Interstate BancSystem Price Performance

Shares of FIBK stock traded down $0.33 on Friday, hitting $32.95. 43,610 shares of the stock traded hands, compared to its average volume of 674,063. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $34.53. The firm has a 50 day simple moving average of $30.94 and a two-hundred day simple moving average of $29.22. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 14.60 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the company earned $0.70 earnings per share. As a group, equities research analysts predict that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 82.46%.

Hedge Funds Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in First Interstate BancSystem in the 3rd quarter worth $69,000. CWM LLC increased its holdings in shares of First Interstate BancSystem by 16.0% in 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. Innealta Capital LLC purchased a new stake in shares of First Interstate BancSystem in the second quarter worth about $106,000. nVerses Capital LLC boosted its stake in First Interstate BancSystem by 412.5% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after buying an additional 3,300 shares during the last quarter. Finally, Telos Capital Management Inc. purchased a new position in First Interstate BancSystem during the 3rd quarter valued at approximately $201,000. Institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stephens restated an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a report on Thursday, October 10th. Piper Sandler reduced their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Barclays cut First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $32.00 to $30.00 in a research report on Thursday, October 31st. Wells Fargo & Company cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Finally, StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.