Jonathan Scott Sells 12,892 Shares of First Interstate BancSystem (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 12,892 shares of First Interstate BancSystem stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $35.58, for a total value of $458,697.36. Following the completion of the transaction, the insider owned 866,628 shares in the company, valued at $30,834,624.24. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Trading Down 0.4%

Shares of NASDAQ:FIBK opened at $35.57 on Friday. First Interstate BancSystem, Inc. has a 12-month low of $25.81 and a 12-month high of $39.26. The business’s fifty day simple moving average is $34.67 and its 200-day simple moving average is $35.04. The company has a market capitalization of $3.46 billion, a PE ratio of 11.59 and a beta of 0.76. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.The firm had revenue of $5.10 million for the quarter, compared to the consensus estimate of $242.78 million. During the same period in the previous year, the business earned $0.49 EPS. As a group, equities research analysts predict that First Interstate BancSystem, Inc. will post 2.66 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.3%. The ex-dividend date was Monday, May 11th. First Interstate BancSystem’s payout ratio is 61.24%.

Wall Street Analyst Weigh In

FIBK has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on First Interstate BancSystem from $30.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, March 30th. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Saturday. Piper Sandler dropped their target price on First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $37.00 target price (down from $38.00) on shares of First Interstate BancSystem in a research note on Friday, May 1st. Finally, UBS Group boosted their target price on First Interstate BancSystem from $30.00 to $33.00 and gave the stock a “sell” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $37.00.

Institutional Trading of First Interstate BancSystem

Several large investors have recently added to or reduced their stakes in the company. Northern Capital Management Inc. grew its stake in First Interstate BancSystem by 0.5% during the 4th quarter. Northern Capital Management Inc. now owns 52,100 shares of the financial services provider’s stock valued at $1,803,000 after purchasing an additional 275 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in First Interstate BancSystem by 17.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,099 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 315 shares during the last quarter. HighTower Advisors LLC grew its stake in First Interstate BancSystem by 2.7% during the 4th quarter. HighTower Advisors LLC now owns 14,177 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 375 shares during the last quarter. Alliancebernstein L.P. grew its stake in First Interstate BancSystem by 0.4% during the 3rd quarter. Alliancebernstein L.P. now owns 108,600 shares of the financial services provider’s stock valued at $3,461,000 after purchasing an additional 397 shares during the last quarter. Finally, First Horizon Corp grew its stake in First Interstate BancSystem by 56.0% during the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 455 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

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.