First Interstate BancSystem (NASDAQ:FIBK) Stock: Insider Jonathan Scott Sells 4,175 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Jonathan Scott sold 4,175 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $37.31, for a total value of $155,769.25. Following the transaction, the insider directly owned 807,738 shares of the company’s stock, valued at $30,136,704.78. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

First Interstate BancSystem Stock Up 2.4%

FIBK stock traded up $0.90 during mid-day trading on Monday, reaching $37.68. The company had a trading volume of 1,641,737 shares, compared to its average volume of 1,162,492. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 11.74 and a beta of 0.73. First Interstate BancSystem, Inc. has a 52 week low of $29.39 and a 52 week high of $40.60. The stock has a 50 day simple moving average of $36.50 and a two-hundred day simple moving average of $36.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.69 and a quick ratio of 0.69.

First Interstate BancSystem (NASDAQ:FIBK) last announced 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). First Interstate BancSystem had a return on equity of 9.49% and a net margin of 29.18%. The company had revenue of $249.50 million for the quarter, compared to the consensus estimate of $247.93 million. As a group, equities analysts predict that First Interstate BancSystem, Inc. will post 2.88 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

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

Institutional Trading of First Interstate BancSystem

A number of hedge funds have recently made changes to their positions in FIBK. Root Financial Partners LLC bought a new position in shares of First Interstate BancSystem during the 3rd quarter worth approximately $25,000. Vest Financial LLC raised its stake 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% in 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 period. GAMMA Investing LLC raised its stake in First Interstate BancSystem by 31.0% in 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 period. Finally, Integrated Wealth Concepts LLC acquired a new stake in First Interstate BancSystem during the 2nd quarter valued at $26,000. 88.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on FIBK. Wells Fargo & Company reaffirmed an “underweight” rating and set a $34.00 price target (down from $36.00) on shares of First Interstate BancSystem in a research report on Monday, August 10th. Barclays increased 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 note on Monday, October 5th. Weiss Ratings reissued a “buy (b)” rating on shares of First Interstate BancSystem in a research report on Monday, September 28th. Wall Street Zen lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $39.00 target price on shares of First Interstate BancSystem in a report on Monday, July 27th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, First Interstate BancSystem presently has an average rating of “Reduce” and an average price target 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.