First Interstate BancSystem (NASDAQ:FIBK) Shares Gap Down – What’s Next?

First Interstate BancSystem, Inc. (NASDAQ:FIBK) shares gapped down before the market opened on Monday . The stock had previously closed at $38.22, but opened at $36.66. First Interstate BancSystem shares last traded at $36.6750, with a volume of 14,312 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Wells Fargo & Company raised their target price on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods lifted their price target on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Monday, December 29th. Finally, UBS Group reaffirmed a “neutral” rating and set a $37.00 price objective on shares of First Interstate BancSystem in a research report on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.29.

First Interstate BancSystem Trading Up 0.1%

The firm has a 50-day moving average of $34.89 and a two-hundred day moving average of $32.58. The firm has a market capitalization of $3.78 billion, a P/E ratio of 15.49 and a beta of 0.80. 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 (NASDAQ:FIBK) last posted its quarterly earnings data 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 during the quarter. First Interstate BancSystem had a net margin of 17.62% and a return on equity of 7.25%. On average, analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced 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 was Monday, November 10th. First Interstate BancSystem’s payout ratio is presently 79.32%.

Insiders Place Their Bets

In other news, major shareholder Jonathan R. Scott sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $32.09, for a total value of $224,630.00. Following the completion of the sale, the insider directly owned 945,824 shares of the company’s stock, valued at approximately $30,351,492.16. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $32.75, for a total transaction of $327,500.00. Following the transaction, the insider owned 224,460 shares in the company, valued at $7,351,065. This represents a 4.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 67,232 shares of company stock valued at $2,138,746 in the last ninety days. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On First Interstate BancSystem

Several large investors have recently modified their holdings of FIBK. First Horizon Corp purchased a new stake in First Interstate BancSystem during the third quarter valued at approximately $26,000. GAMMA Investing LLC lifted its position in First Interstate BancSystem by 186.5% during the second quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 647 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in First Interstate BancSystem by 139.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 862 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of First Interstate BancSystem by 1,485.1% during the third quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock valued at $52,000 after buying an additional 1,500 shares during the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new stake in First Interstate BancSystem during the 3rd quarter valued at about $52,000. 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.