First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Jonathan Scott Sells 3,173 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 3,173 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $36.20, for a total transaction of $114,862.60. Following the completion of the transaction, the insider directly owned 937,851 shares in the company, valued at $33,950,206.20. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Price Performance

FIBK opened at $37.09 on Wednesday. The stock has a fifty day moving average price of $33.55 and a 200 day moving average price of $31.90. The company has a current ratio of 0.74, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09. First Interstate BancSystem, Inc. has a 1 year low of $22.95 and a 1 year high of $37.15. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 15.65 and a beta of 0.80.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Thursday, November 6th. The financial services provider reported $0.69 earnings per share for the quarter. The company had revenue of $250.50 million for the quarter. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%. Analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Monday, November 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 79.32%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FIBK. Weiss Ratings restated a “hold (c+)” rating on shares of First Interstate BancSystem in a research note on Monday, December 29th. Wells Fargo & Company upped their price objective on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods increased their target price on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Wall Street Zen cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Finally, UBS Group reiterated a “neutral” rating and set a $37.00 price target on shares of First Interstate BancSystem in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, First Interstate BancSystem has an average rating of “Hold” and an average price target of $37.29.

Institutional Investors Weigh In On First Interstate BancSystem

A number of hedge funds have recently bought and sold shares of the company. HoldCo Asset Management LP acquired a new stake in First Interstate BancSystem in the 2nd quarter valued at approximately $102,890,000. Azora Capital LP boosted its position in shares of First Interstate BancSystem by 1,538.7% in the third quarter. Azora Capital LP now owns 1,275,693 shares of the financial services provider’s stock valued at $40,656,000 after acquiring an additional 1,197,843 shares during the period. UBS Group AG grew its stake in shares of First Interstate BancSystem by 140.5% in the third quarter. UBS Group AG now owns 1,754,104 shares of the financial services provider’s stock worth $55,903,000 after acquiring an additional 1,024,683 shares during the last quarter. Norges Bank acquired a new stake in shares of First Interstate BancSystem in the second quarter worth $29,082,000. Finally, Wellington Management Group LLP increased its position in First Interstate BancSystem by 20.4% during the third quarter. Wellington Management Group LLP now owns 5,915,425 shares of the financial services provider’s stock worth $188,525,000 after acquiring an additional 1,003,021 shares during the period. 88.71% of the stock is currently owned by institutional investors.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.