First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Sells $114,862.60 in Stock

Key Points

  • Insider sale: Major shareholder Jonathan Scott sold 3,173 shares at an average price of $36.20 for $114,862.60, trimming his stake by 0.34% to 937,851 shares (valued at about $33.95M).
  • Dividend and recent results: First Interstate pays a $0.47 quarterly dividend (annualized $1.88) for a 5.1% yield with a 79.3% payout ratio; the company reported $0.69 EPS and $250.5M revenue in the most recent quarter.
  • Market and analyst view: FIBK is trading near its 12‑month high (~$37), has a $3.82B market cap, and carries an average analyst rating of "Hold" with a consensus price target of $37.29.

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) major shareholder Jonathan Scott sold 3,173 shares of the business's stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $36.20, for a total transaction of $114,862.60. Following the transaction, the insider owned 937,851 shares in the company, valued at approximately $33,950,206.20. The trade was a 0.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

First Interstate BancSystem Stock Up 2.9%

NASDAQ FIBK opened at $37.09 on Wednesday. First Interstate BancSystem, Inc. has a twelve month low of $22.95 and a twelve month high of $37.15. The stock has a market cap of $3.82 billion, a PE ratio of 15.65 and a beta of 0.80. The firm has a 50-day simple moving average of $33.55 and a 200 day simple moving average of $31.90. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.73 and a current ratio of 0.74.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%.The firm had revenue of $250.50 million for the quarter. On average, research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend




The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Monday, November 10th. First Interstate BancSystem's dividend payout ratio is presently 79.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. boosted its holdings in shares of First Interstate BancSystem by 0.4% in the 3rd quarter. Alliancebernstein L.P. now owns 108,600 shares of the financial services provider's stock worth $3,461,000 after acquiring an additional 397 shares in the last quarter. GAMMA Investing LLC raised its position in First Interstate BancSystem by 49.6% in the 4th quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 516 shares during the last quarter. Altus Wealth Group LLC boosted its stake in First Interstate BancSystem by 2.2% in the second quarter. Altus Wealth Group LLC now owns 27,072 shares of the financial services provider's stock worth $780,000 after purchasing an additional 585 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of First Interstate BancSystem by 5.6% during the third quarter. Inspire Investing LLC now owns 14,239 shares of the financial services provider's stock worth $454,000 after purchasing an additional 757 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of First Interstate BancSystem by 3.0% during the third quarter. Arizona State Retirement System now owns 26,369 shares of the financial services provider's stock worth $840,000 after purchasing an additional 763 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FIBK has been the topic of several analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of First Interstate BancSystem in a report on Monday, December 29th. DA Davidson lifted their target price on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, September 12th. UBS Group reissued a "neutral" rating and issued a $37.00 price target on shares of First Interstate BancSystem in a research report on Tuesday. Wells Fargo & Company lifted their price objective on First Interstate BancSystem from $28.00 to $30.00 and gave the company an "underweight" rating in a report on Monday, September 29th. Finally, Keefe, Bruyette & Woods increased their target price on First Interstate BancSystem from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, December 17th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $37.29.

Get Our Latest Stock Report on FIBK

First Interstate BancSystem Company Profile

(Get Free Report)

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.

See Also

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

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