First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Jonathan Scott Sells 4,500 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $36.29, for a total transaction of $163,305.00. Following the completion of the transaction, the insider owned 862,128 shares of the company’s stock, valued at approximately $31,286,625.12. This trade represents a 0.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

First Interstate BancSystem Stock Up 2.2%

NASDAQ:FIBK opened at $36.43 on Friday. First Interstate BancSystem, Inc. has a one year low of $26.16 and a one year high of $39.26. 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 company has a market cap of $3.54 billion, a PE ratio of 11.87 and a beta of 0.76. The firm’s 50 day simple moving average is $35.19 and its 200 day simple moving average is $35.37.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) 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 last year, the firm earned $0.49 earnings per share. On average, research analysts anticipate that First Interstate BancSystem, Inc. will post 2.66 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Monday, May 11th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 61.24%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FIBK shares. Piper Sandler decreased their price target 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $37.00 price objective (down from $38.00) on shares of First Interstate BancSystem in a research note on Friday, May 1st. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings downgraded shares of First Interstate BancSystem from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, DA Davidson downgraded shares of First Interstate BancSystem from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $41.00 to $39.00 in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $37.00.

Institutional Investors Weigh In On First Interstate BancSystem

Large investors have recently added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. acquired a new position in First Interstate BancSystem in the fourth quarter valued at approximately $25,000. Kestra Advisory Services LLC acquired a new stake in shares of First Interstate BancSystem during the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its stake in shares of First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 862 shares in the last quarter. First Horizon Corp lifted its position 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 valued at $44,000 after acquiring an additional 455 shares during the period. Finally, Jones Financial Companies Lllp lifted its position 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 valued at $52,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

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.