First Interstate BancSystem (NASDAQ:FIBK) Stock: Insider Jonathan Scott Sells 825 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 825 shares of the firm’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $37.00, for a total value of $30,525.00. Following the completion of the sale, the insider directly owned 811,913 shares of the company’s stock, valued at $30,040,781. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

First Interstate BancSystem Trading Up 0.4%

NASDAQ:FIBK opened at $37.83 on Wednesday. The firm’s fifty day simple moving average is $36.47 and its 200 day simple moving average is $36.28. First Interstate BancSystem, Inc. has a twelve month low of $29.39 and a twelve month high of $40.60.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). The business had revenue of $249.50 million for the quarter, compared to analyst estimates of $247.93 million. On average, analysts expect that First Interstate BancSystem, Inc. will post 2.87 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, November 3rd will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 3rd.

Institutional Investors Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in First Interstate BancSystem in the third quarter worth $25,000. Integrated Wealth Concepts LLC purchased a new position in First Interstate BancSystem during the second quarter valued at $26,000. Allworth Financial LP purchased a new position in First Interstate BancSystem during the second quarter valued at $62,000. Public Employees Retirement System of Ohio bought a new stake in shares of First Interstate BancSystem during the 2nd quarter valued at $65,000. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of First Interstate BancSystem by 15,876.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 2,077 shares of the financial services provider’s stock valued at $69,000 after buying an additional 2,064 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FIBK. Barclays boosted their price target on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the company an “underweight” rating in a research report on Monday, October 5th. DA Davidson reissued a “neutral” rating and issued a $39.00 price target on shares of First Interstate BancSystem in a research note on Monday, July 27th. Benchmark upgraded shares of First Interstate BancSystem to a “hold” rating in a report on Wednesday, September 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Interstate BancSystem in a research report on Monday, September 28th. Finally, Wells Fargo & Company reaffirmed 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. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $37.00.

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.