Insider Selling: First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Sells $101,628.00 in Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Julie Scott sold 2,700 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $37.64, for a total transaction of $101,628.00. Following the completion of the sale, the insider owned 484,309 shares in the company, valued at approximately $18,229,390.76. This trade represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Stock Performance

Shares of FIBK opened at $37.35 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average price is $37.89 and its 200-day moving average price is $36.19. First Interstate BancSystem, Inc. has a 52 week low of $29.10 and a 52 week high of $40.60. The stock has a market cap of $3.56 billion, a P/E ratio of 11.49 and a beta of 0.75.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.18. The business had revenue of $263.90 million during the quarter, compared to analysts’ expectations of $249.32 million. First Interstate BancSystem had a return on equity of 9.55% and a net margin of 23.63%.The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. Equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.84 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Tuesday, August 4th were issued a $0.47 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.88 annualized dividend and a yield of 5.0%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 57.85%.

Institutional Investors Weigh In On First Interstate BancSystem

Several institutional investors and hedge funds have recently modified their holdings of FIBK. Integrated Wealth Concepts LLC purchased a new position in shares of First Interstate BancSystem in the second quarter worth $26,000. Eurizon Capital SGR S.p.A. purchased a new position in First Interstate BancSystem during the fourth quarter valued at $25,000. Allworth Financial LP bought a new stake in First Interstate BancSystem in the 2nd quarter valued at $62,000. Public Employees Retirement System of Ohio purchased a new stake in First Interstate BancSystem in the 2nd quarter worth $65,000. Finally, SJS Investment Consulting Inc. lifted its stake in First Interstate BancSystem by 15,876.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 2,077 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 2,064 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. DA Davidson reissued a “neutral” rating and issued a $39.00 price objective on shares of First Interstate BancSystem in a report on Monday, July 27th. Wall Street Zen upgraded shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research report on Monday, June 22nd. Barclays cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $38.00 to $37.00 in a research note on Monday, August 3rd. Wells Fargo & Company reissued an “underweight” rating and set a $34.00 price objective (down from $36.00) on shares of First Interstate BancSystem in a research report on Monday, August 10th. Finally, Weiss Ratings upgraded First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $36.83.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides community banking services to individuals, businesses, governmental entities and nonprofit organizations.

Its products and services include personal and business deposit accounts, consumer and commercial lending, mortgage banking, treasury management, online and mobile banking, investment services, and wealth management.