First Interstate BancSystem, Inc. (NASDAQ:FIBK) Major Shareholder Julie A. Scott Sells 20,220 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Julie A. Scott sold 20,220 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the sale, the insider now owns 635,069 shares in the company, valued at $20,817,561.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Stock Performance

Shares of NASDAQ FIBK opened at $33.74 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.79 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $3.53 billion, a P/E ratio of 14.80 and a beta of 0.81. First Interstate BancSystem, Inc. has a 12 month low of $22.89 and a 12 month high of $34.53. The stock has a 50 day moving average of $30.81 and a 200-day moving average of $29.14.

First Interstate BancSystem (NASDAQ:FIBK) last released 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 quarter last 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 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 5.57%. The ex-dividend date of this dividend is Monday, November 4th. First Interstate BancSystem’s payout ratio is 82.46%.

Institutional Trading of First Interstate BancSystem

Several institutional investors have recently added to or reduced their stakes in FIBK. Dimensional Fund Advisors LP lifted its holdings in shares of First Interstate BancSystem by 8.7% during 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 buying an additional 367,212 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in First Interstate BancSystem by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider’s stock worth $56,974,000 after acquiring an additional 32,348 shares during the period. Charles Schwab Investment Management Inc. raised its stake in First Interstate BancSystem by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider’s stock worth $32,945,000 after purchasing an additional 52,919 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in First Interstate BancSystem by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 887,559 shares of the financial services provider’s stock valued at $24,648,000 after purchasing an additional 11,493 shares during the period. Finally, Jennison Associates LLC grew its position in shares of First Interstate BancSystem by 57.3% during the 3rd quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider’s stock worth $27,176,000 after purchasing an additional 322,578 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on FIBK. Keefe, Bruyette & Woods increased their target price 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. Stephens restated an “overweight” rating and issued a $36.00 price objective on shares of First Interstate BancSystem in a report on Thursday, October 10th. DA Davidson increased their price target 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. Piper Sandler decreased their price target on 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. Finally, Barclays downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $32.00 to $30.00 in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and an average 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.