First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Sells $222,170.00 in Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the sale, the director now owns 958,710 shares of the company’s stock, valued at $32,768,707.80. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

First Interstate BancSystem Price Performance

Shares of NASDAQ:FIBK opened at $33.14 on Friday. The business has a 50-day moving average of $31.01 and a two-hundred day moving average of $29.25. First Interstate BancSystem, Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $34.53. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $3.46 billion, a P/E ratio of 14.54 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share 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 period in the prior year, the company posted $0.70 EPS. On average, equities research analysts predict that First Interstate BancSystem, Inc. will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently declared 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 5.67%. First Interstate BancSystem’s dividend payout ratio is 82.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in First Interstate BancSystem by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock worth $127,204,000 after purchasing an additional 367,212 shares during the period. Edgestream Partners L.P. bought a new position in shares of First Interstate BancSystem in the first quarter valued at about $1,597,000. CWM LLC grew its stake in shares of First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 430 shares during the last quarter. Versor Investments LP acquired a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at $914,000. Finally, Renaissance Technologies LLC bought a new stake in shares of First Interstate BancSystem during the second quarter worth approximately $825,000. 88.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FIBK. Barclays downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $32.00 to $30.00 in a report on Thursday, October 31st. Stephens reissued an “overweight” rating and set a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, Piper Sandler cut their price target on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, First Interstate BancSystem has a consensus rating of “Hold” and an average price target of $32.50.

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.