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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Jonathan R. Scott sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the sale, the director now directly owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. This represents a 0.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

First Interstate BancSystem Trading Down 0.4 %

NASDAQ FIBK opened at $33.14 on Friday. The stock has a market cap of $3.46 billion, a P/E ratio of 14.54 and a beta of 0.81. First Interstate BancSystem, Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $34.53. The stock has a 50 day simple moving average of $31.09 and a two-hundred day simple moving average of $29.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share 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 quarter in the prior year, the firm posted $0.70 earnings per share. On average, analysts forecast that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem’s payout ratio is currently 82.46%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FIBK. Piper Sandler cut their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Keefe, Bruyette & Woods upped their price target on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Stephens reissued an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $30.00 to $28.00 in a research report on Tuesday, October 1st. Finally, DA Davidson boosted their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.50.

Institutional Trading of First Interstate BancSystem

Large investors have recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new position in shares of First Interstate BancSystem in the 3rd quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of First Interstate BancSystem during the 3rd quarter valued at $69,000. CWM LLC increased its stake in shares of First Interstate BancSystem by 16.0% in the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 430 shares in the last quarter. Innealta Capital LLC bought a new position in shares of First Interstate BancSystem in the 2nd quarter worth about $106,000. Finally, 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 worth $114,000 after acquiring an additional 3,300 shares in the last quarter. 88.71% of the stock is owned by institutional investors.

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.