Jonathan Scott Sells 1,827 Shares of First Interstate BancSystem (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 1,827 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $36.92, for a total value of $67,452.84. Following the completion of the transaction, the insider directly owned 936,024 shares in the company, valued at approximately $34,558,006.08. This represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

First Interstate BancSystem Stock Down 0.6%

FIBK opened at $36.88 on Thursday. The stock has a fifty day moving average of $33.65 and a 200-day moving average of $31.94. The company has a market capitalization of $3.79 billion, a P/E ratio of 15.56 and a beta of 0.80. First Interstate BancSystem, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $37.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.73 and a current ratio of 0.74.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.69 EPS for the quarter. First Interstate BancSystem had a net margin of 17.62% and a return on equity of 7.25%. The business had revenue of $250.50 million for the quarter. On average, equities analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FIBK shares. Weiss Ratings reissued a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Monday, December 29th. Wells Fargo & Company upped their target price on First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Barclays increased their target price on First Interstate BancSystem from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Friday, December 19th. DA Davidson boosted their price target on First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, Wall Street Zen cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $37.29.

Institutional Investors Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in First Interstate BancSystem by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 8,833,965 shares of the financial services provider’s stock valued at $281,538,000 after purchasing an additional 64,371 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of 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 buying an additional 1,003,021 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Interstate BancSystem by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,495,403 shares of the financial services provider’s stock valued at $175,140,000 after acquiring an additional 78,835 shares during the last quarter. State Street Corp lifted its stake in shares of First Interstate BancSystem by 2.3% in the 2nd quarter. State Street Corp now owns 4,050,473 shares of the financial services provider’s stock valued at $116,735,000 after acquiring an additional 92,715 shares during the last quarter. Finally, HoldCo Asset Management LP boosted its holdings in shares of First Interstate BancSystem by 10.6% during the 3rd quarter. HoldCo Asset Management LP now owns 3,950,107 shares of the financial services provider’s stock valued at $125,890,000 after acquiring an additional 380,000 shares in the last quarter. 88.71% of the stock is 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.