First Interstate BancSystem (NASDAQ:FIBK) Director James Scott, Jr. Sells 3,108 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director James Scott, Jr. sold 3,108 shares of First Interstate BancSystem stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $38.00, for a total value of $118,104.00. Following the sale, the director directly owned 77,634 shares of the company’s stock, valued at $2,950,092. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

First Interstate BancSystem Trading Down 2.9%

NASDAQ:FIBK opened at $37.62 on Wednesday. The stock has a 50-day simple moving average of $36.49 and a 200-day simple moving average of $36.31. The stock has a market cap of $3.59 billion, a P/E ratio of 12.06 and a beta of 0.73. First Interstate BancSystem, Inc. has a 1 year low of $29.39 and a 1 year high of $40.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.69 and a current ratio of 0.69.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). First Interstate BancSystem had a net margin of 29.18% and a return on equity of 9.49%. The business had revenue of $43.30 million during the quarter, compared to analysts’ expectations of $247.93 million. As a group, analysts anticipate that First Interstate BancSystem, Inc. will post 2.79 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, November 3rd will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 3rd. First Interstate BancSystem’s dividend payout ratio is 58.57%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FIBK. Wall Street Zen cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. Stephens upped their target price on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, October 29th. Wells Fargo & Company restated an “underweight” rating and issued a $34.00 target price (down from $36.00) on shares of First Interstate BancSystem in a report on Monday, August 10th. Benchmark raised shares of First Interstate BancSystem to a “hold” rating in a research report on Wednesday, September 23rd. Finally, Barclays lifted their price target on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $37.14.

Institutional Investors Weigh In On First Interstate BancSystem

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIBK. Vise Technologies Inc. grew its holdings in shares of First Interstate BancSystem by 47.6% during the third quarter. Vise Technologies Inc. now owns 10,172 shares of the financial services provider’s stock worth $364,000 after buying an additional 3,279 shares during the last quarter. Root Financial Partners LLC acquired a new position in First Interstate BancSystem in the 3rd quarter valued at about $25,000. Vest Financial LLC increased its position in First Interstate BancSystem by 3.5% in the 3rd quarter. Vest Financial LLC now owns 57,445 shares of the financial services provider’s stock valued at $2,053,000 after acquiring an additional 1,925 shares during the period. AdvisorNet Financial Inc raised its stake in First Interstate BancSystem by 18.1% during the 3rd quarter. AdvisorNet Financial Inc now owns 6,055 shares of the financial services provider’s stock valued at $208,000 after acquiring an additional 930 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in First Interstate BancSystem by 31.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,698 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 639 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 financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides community banking services to individuals, businesses, agricultural customers and governmental entities.

First Interstate Bank offers deposit accounts, consumer and commercial loans, mortgage lending, credit cards, cash-management and treasury-management services, online and mobile banking, and wealth-management and investment services.