James R. Scott, Jr. Sells 6,067 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder James R. Scott, Jr. sold 6,067 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now owns 75,387 shares in the company, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Trading Down 0.2 %

NASDAQ FIBK opened at $35.41 on Wednesday. The company’s fifty day simple moving average is $31.70 and its 200-day simple moving average is $29.64. The stock has a market cap of $3.70 billion, a P/E ratio of 15.53 and a beta of 0.81. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $36.77. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK) last issued 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 period last year, the business posted $0.70 EPS. Equities research analysts predict that First Interstate BancSystem, Inc. will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 5.31%. First Interstate BancSystem’s dividend payout ratio is presently 82.46%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FIBK. Piper Sandler decreased their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. DA Davidson raised shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $32.00 to $42.00 in a research note on Tuesday. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $30.00 to $28.00 in a research report on Tuesday, October 1st. Finally, Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $32.00 to $30.00 in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.83.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FIBK. Dimensional Fund Advisors LP grew its stake in First Interstate BancSystem by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock worth $127,204,000 after purchasing an additional 367,212 shares in the last quarter. Jennison Associates LLC grew its position in shares of First Interstate BancSystem by 57.3% in the 3rd quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider’s stock worth $27,176,000 after acquiring an additional 322,578 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of First Interstate BancSystem in the 2nd quarter valued at approximately $3,003,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of First Interstate BancSystem by 100.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 211,390 shares of the financial services provider’s stock valued at $6,485,000 after acquiring an additional 105,670 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in First Interstate BancSystem by 6.5% during the third quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock worth $39,522,000 after purchasing an additional 78,596 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

About First Interstate BancSystem

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.