Julie Scott Sells 15,000 Shares of First Interstate BancSystem (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Julie Scott sold 15,000 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.97, for a total value of $539,550.00. Following the completion of the sale, the insider owned 488,359 shares in the company, valued at $17,566,273.23. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Price Performance

FIBK opened at $36.43 on Friday. The firm has a market cap of $3.54 billion, a P/E ratio of 11.87 and a beta of 0.76. The business’s fifty day simple moving average is $35.24 and its 200 day simple moving average is $35.37. First Interstate BancSystem, Inc. has a 52 week low of $26.16 and a 52 week high of $39.26. The company has a quick ratio of 0.70, a current 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, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $5.10 million during the quarter, compared to the consensus estimate of $242.78 million. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.13%. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.66 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Monday, May 11th. First Interstate BancSystem’s payout ratio is currently 61.24%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. DA Davidson lowered shares of First Interstate BancSystem from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $41.00 to $39.00 in a research report on Wednesday, May 27th. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. UBS Group raised their price objective on First Interstate BancSystem from $30.00 to $33.00 and gave the stock a “sell” rating in a report on Friday, May 1st. Wells Fargo & Company lifted their price objective on First Interstate BancSystem from $30.00 to $36.00 and gave the company an “underweight” rating in a research report on Monday, March 30th. Finally, Piper Sandler dropped their target price on First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC grew its position in First Interstate BancSystem by 37.2% during the first quarter. AQR Capital Management LLC now owns 67,214 shares of the financial services provider’s stock valued at $1,926,000 after acquiring an additional 18,210 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of First Interstate BancSystem by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,230 shares of the financial services provider’s stock valued at $1,353,000 after purchasing an additional 2,070 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of First Interstate BancSystem in the 1st quarter valued at about $238,000. Jones Financial Companies Lllp grew its holdings in shares of First Interstate BancSystem by 24,352.5% during the 1st quarter. Jones Financial Companies Lllp now owns 24,697 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 24,596 shares during the period. Finally, Jane Street Group LLC acquired a new stake in First Interstate BancSystem during the 1st quarter worth approximately $5,125,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Company Profile

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.