First Interstate BancSystem, Inc. (NASDAQ:FIBK) Major Shareholder Julie A. Scott Sells 20,220 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Julie A. Scott sold 20,220 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $32.78, for a total transaction of $662,811.60. Following the completion of the sale, the insider now owns 635,069 shares of the company’s stock, valued at $20,817,561.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Price Performance

Shares of FIBK stock traded down $0.19 during trading hours on Tuesday, hitting $33.74. The stock had a trading volume of 619,981 shares, compared to its average volume of 679,086. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.79. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 14.80 and a beta of 0.81. The stock’s 50-day moving average price is $30.81 and its two-hundred day moving average price is $29.14. First Interstate BancSystem, Inc. has a one year low of $22.89 and a one year high of $34.53.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Equities analysts forecast that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.57%. First Interstate BancSystem’s payout ratio is currently 82.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler reduced their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. DA Davidson lifted their price target on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods upped their price target on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Stephens reaffirmed an “overweight” rating and issued a $36.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.50.

Hedge Funds Weigh In On First Interstate BancSystem

A number of hedge funds have recently made changes to their positions in the business. CWM LLC boosted its holdings in shares of First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after buying an additional 430 shares during the period. Innealta Capital LLC purchased a new stake in shares of First Interstate BancSystem during the second quarter worth about $106,000. nVerses Capital LLC increased its position in shares of First Interstate BancSystem by 412.5% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 3,300 shares in the last quarter. Telos Capital Management Inc. purchased a new position in shares of First Interstate BancSystem during the 3rd quarter valued at $201,000. Finally, Washington Trust Bank purchased a new position in shares of First Interstate BancSystem during the 2nd quarter worth about $204,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

About First Interstate BancSystem

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.