Key Points
- Major shareholder Jonathan Scott sold 5,000 shares of First Interstate BancSystem at an average price of $36.90, generating approximately $184,500. He still owns 812,738 shares, so the sale reduced his stake by just 0.61%.
- First Interstate reported quarterly EPS of $0.65, missing the $0.68 consensus estimate, although revenue of $249.5 million topped expectations. Net margin was 23.63% and return on equity was 9.33%.
- The company declared a quarterly dividend of $0.47 per share, or $1.88 annually, representing an approximately 5.1% yield. Analysts remain cautious, with an average “Reduce” rating and a $37 target price.
First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) major shareholder Jonathan Scott sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $36.90, for a total value of $184,500.00. Following the transaction, the insider owned 812,738 shares of the company's stock, valued at approximately $29,990,032.20. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
First Interstate BancSystem Stock Down 0.3%
Shares of NASDAQ:FIBK opened at $36.78 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $36.50 and a 200 day simple moving average of $36.55. The firm has a market cap of $3.51 billion, a PE ratio of 11.46 and a beta of 0.73. First Interstate BancSystem, Inc. has a 12-month low of $29.39 and a 12-month high of $40.60.
First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.03). First Interstate BancSystem had a net margin of 23.63% and a return on equity of 9.33%. The company had revenue of $249.50 million during the quarter, compared to analyst estimates of $247.93 million. On average, equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.88 EPS for the current fiscal year.
First Interstate BancSystem Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, November 3rd will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $1.88 annualized dividend and a dividend yield of 5.1%. First Interstate BancSystem's payout ratio is presently 57.85%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on FIBK shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Interstate BancSystem in a research report on Monday, September 28th. Benchmark raised First Interstate BancSystem to a "hold" rating in a report on Wednesday, September 23rd. DA Davidson restated a "neutral" rating and set a $39.00 price objective on shares of First Interstate BancSystem in a research note on Monday, July 27th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $34.00 target price (down from $36.00) on shares of First Interstate BancSystem in a report on Monday, August 10th. Finally, Barclays increased their target price on First Interstate BancSystem from $37.00 to $38.00 and gave the stock an "underweight" rating in a report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $37.00.
Read Our Latest Stock Report on First Interstate BancSystem
First Interstate BancSystem News Summary
Here are the key news stories impacting First Interstate BancSystem this week:
- Positive Sentiment: First Interstate declared a quarterly dividend of $0.47 per share, equivalent to $1.88 annually and a yield of approximately 5.2%. The dividend supports the stock’s income appeal. First Interstate dividend information
- Positive Sentiment: Third-quarter revenue totaled $249.5 million, slightly exceeding analyst expectations of $247.93 million. Net interest margin also improved to 3.53%, a potentially encouraging sign for future earnings if sustained. First Interstate third-quarter earnings release
- Neutral Sentiment: Major shareholder Jonathan Scott sold 5,000 shares for approximately $184,500. The sale reduced his holdings by only 0.61%, leaving him with 812,738 shares, so the transaction is relatively small compared with his remaining stake. SEC insider ownership filing
- Negative Sentiment: FIBK reported third-quarter earnings of $0.65 per diluted share, missing consensus estimates, which ranged from roughly $0.70 to $0.92 depending on the data provider. Net income fell to $62.2 million from $71.4 million a year earlier, while earnings declined to $0.65 from $0.69 per share. First Interstate earnings flash
- Negative Sentiment: Investors remain concerned about weak core earnings growth, a contracting loan portfolio and a declining asset base. These trends suggest that improved margins have not yet translated into stronger overall operating performance relative to regional-bank peers. First Interstate Q3 analysis
Institutional Trading of First Interstate BancSystem
Institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new stake in shares of First Interstate BancSystem during the 3rd quarter worth approximately $25,000. Vest Financial LLC boosted its position in First Interstate BancSystem by 3.5% during the 3rd quarter. Vest Financial LLC now owns 57,445 shares of the financial services provider's stock valued at $2,053,000 after purchasing an additional 1,925 shares during the period. AdvisorNet Financial Inc boosted its position in First Interstate BancSystem by 18.1% during the 3rd quarter. AdvisorNet Financial Inc now owns 6,055 shares of the financial services provider's stock valued at $208,000 after purchasing an additional 930 shares during the period. GAMMA Investing LLC boosted its position in First Interstate BancSystem by 31.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,698 shares of the financial services provider's stock valued at $96,000 after purchasing an additional 639 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in First Interstate BancSystem during the 2nd quarter worth $26,000. Institutional investors own 88.71% of the company's stock.
About First Interstate BancSystem
(
Get Free Report)
First Interstate BancSystem, Inc is a financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides community banking services to individuals, businesses, agricultural customers and governmental entities.
First Interstate Bank offers deposit accounts, consumer and commercial loans, mortgage lending, credit cards, cash-management and treasury-management services, online and mobile banking, and wealth-management and investment services.
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