Insider Selling: First Interstate BancSystem, Inc. (NASDAQ:FIBK) Insider Sells 1,921 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBKGet Free Report) insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the sale, the insider now directly owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

First Interstate BancSystem Price Performance

Shares of NASDAQ:FIBK opened at $25.21 on Friday. The firm’s 50 day moving average is $27.24 and its two-hundred day moving average is $26.49. First Interstate BancSystem, Inc. has a 52 week low of $20.81 and a 52 week high of $32.73. The firm has a market capitalization of $2.62 billion, a P/E ratio of 10.17 and a beta of 0.86. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89.

First Interstate BancSystem (NASDAQ:FIBKGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.47%. The company had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. Analysts anticipate that First Interstate BancSystem, Inc. will post 2.31 earnings per share for the current year.

First Interstate BancSystem Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 19th. Shareholders of record on Friday, February 9th were paid a $0.47 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.88 annualized dividend and a dividend yield of 7.46%. This is a positive change from First Interstate BancSystem’s previous quarterly dividend of $0.20. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 75.81%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. TheStreet raised shares of First Interstate BancSystem from a “c” rating to a “b-” rating in a research report on Wednesday, December 13th. Barclays started coverage on shares of First Interstate BancSystem in a research note on Friday, March 8th. They set an “equal weight” rating and a $28.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.00.

View Our Latest Analysis on FIBK

Institutional Investors Weigh In On First Interstate BancSystem

Large investors have recently made changes to their positions in the company. Global Retirement Partners LLC increased its stake in shares of First Interstate BancSystem by 132.8% in the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 530 shares during the period. Wolverine Asset Management LLC bought a new position in shares of First Interstate BancSystem in the fourth quarter valued at approximately $39,000. Parallel Advisors LLC boosted its holdings in shares of First Interstate BancSystem by 205.3% in the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 856 shares in the last quarter. CWM LLC boosted its holdings in shares of First Interstate BancSystem by 129.7% in the second quarter. CWM LLC now owns 1,631 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 921 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of First Interstate BancSystem by 263.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,081 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 1,508 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

About First Interstate BancSystem

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for First Interstate BancSystem (NASDAQ:FIBK)

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