James R. Scott, Jr. Sells 6,067 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder James R. Scott, Jr. sold 6,067 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares of the company’s stock, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large 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 Stock Down 0.2 %

FIBK stock opened at $35.41 on Wednesday. The firm’s 50-day moving average is $31.70 and its two-hundred day moving average is $29.64. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 15.53 and a beta of 0.81. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $36.77. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK) last announced its 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 return on equity of 7.48% and a net margin of 15.94%. During the same period in the prior year, the firm posted $0.70 EPS. On average, analysts forecast that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 5.31%. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in First Interstate BancSystem by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock valued at $127,204,000 after acquiring an additional 367,212 shares during the last quarter. Versor Investments LP bought a new stake in First Interstate BancSystem during the third quarter worth approximately $914,000. Empower Advisory Group LLC grew its holdings in shares of First Interstate BancSystem by 4.8% in the 3rd quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock worth $14,318,000 after acquiring an additional 21,191 shares during the last quarter. CWM LLC raised its holdings in 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. Finally, Quest Partners LLC raised its holdings in shares of First Interstate BancSystem by 1,115.4% during the third quarter. Quest Partners LLC now owns 82,998 shares of the financial services provider’s stock valued at $2,546,000 after acquiring an additional 76,169 shares during the period. 88.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FIBK. Stephens restated an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th. DA Davidson upgraded shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and upped their price target for the stock from $32.00 to $42.00 in a research report on Tuesday. StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Wells Fargo & Company cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $30.00 to $28.00 in a research report on Tuesday, October 1st. Finally, Barclays downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $32.00 to $30.00 in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, First Interstate BancSystem presently has a consensus rating of “Hold” and a consensus price target of $33.83.

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.