First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Jonathan Scott Sells 12,892 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 12,892 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $35.58, for a total transaction of $458,697.36. Following the sale, the insider owned 866,628 shares of the company’s stock, valued at $30,834,624.24. This represents a 1.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Trading Up 4.1%

NASDAQ FIBK opened at $35.72 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s fifty day moving average price is $34.63 and its 200 day moving average price is $35.04. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 11.64 and a beta of 0.76. First Interstate BancSystem, Inc. has a 12 month low of $25.81 and a 12 month high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $5.10 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $0.49 earnings per share. On average, sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.66 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Monday, May 11th. First Interstate BancSystem’s payout ratio is presently 61.24%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FIBK. DA Davidson downgraded First Interstate BancSystem from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $41.00 to $39.00 in a report on Wednesday, May 27th. UBS Group lifted their target price on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a report on Friday, May 1st. Wells Fargo & Company increased their price target on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, March 30th. Wall Street Zen raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 15th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Institutional Investors Weigh In On First Interstate BancSystem

A number of institutional investors have recently added to or reduced their stakes in FIBK. Eurizon Capital SGR S.p.A. acquired a new stake in shares of First Interstate BancSystem in the 4th quarter valued at approximately $25,000. Kestra Advisory Services LLC purchased a new stake in shares of First Interstate BancSystem during the 4th quarter worth $29,000. EverSource Wealth Advisors LLC boosted its position in shares of First Interstate BancSystem by 139.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 862 shares in the last quarter. First Horizon Corp grew its stake in shares of First Interstate BancSystem by 56.0% during the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 455 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of First Interstate BancSystem by 1,485.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,500 shares during the period. 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.