First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) Director James Scott, Jr. sold 3,108 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $38.00, for a total value of $118,104.00. Following the sale, the director directly owned 77,634 shares of the company's stock, valued at approximately $2,950,092. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
First Interstate BancSystem Price Performance
Shares of NASDAQ FIBK opened at $37.62 on Wednesday. The stock has a fifty day moving average price of $36.49 and a 200 day moving average price of $36.31. First Interstate BancSystem, Inc. has a 1-year low of $29.39 and a 1-year high of $40.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $3.59 billion, a PE ratio of 12.06 and a beta of 0.73.
First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $43.30 million during the quarter, compared to analyst estimates of $247.93 million. First Interstate BancSystem had a net margin of 29.18% and a return on equity of 9.49%. Sell-side analysts forecast that First Interstate BancSystem, Inc. will post 2.79 EPS for the current year.
First Interstate BancSystem Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, November 3rd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Tuesday, November 3rd. First Interstate BancSystem's dividend payout ratio (DPR) is 58.57%.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an "underweight" rating and set a $34.00 price target (down from $36.00) on shares of First Interstate BancSystem in a research note on Monday, August 10th. Wall Street Zen downgraded shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research report on Saturday, October 24th. DA Davidson restated a "neutral" rating and issued a $39.00 price objective on shares of First Interstate BancSystem in a research report on Monday, July 27th. Stephens lifted their price objective on First Interstate BancSystem from $37.00 to $38.00 and gave the company an "equal weight" rating in a report on Thursday, October 29th. Finally, Benchmark upgraded First Interstate BancSystem to a "hold" rating in a research report on Wednesday, September 23rd. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $37.14.
Get Our Latest Analysis on First Interstate BancSystem
Institutional Investors Weigh In On First Interstate BancSystem
Hedge funds and other institutional investors have recently bought and sold shares of the business. Vise Technologies Inc. boosted its position in shares of First Interstate BancSystem by 47.6% during the 3rd quarter. Vise Technologies Inc. now owns 10,172 shares of the financial services provider's stock worth $364,000 after purchasing an additional 3,279 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of First Interstate BancSystem during the 3rd quarter worth $25,000. Vest Financial LLC grew its stake in shares of 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 worth $2,053,000 after purchasing an additional 1,925 shares during the period. AdvisorNet Financial Inc increased its holdings in shares of First Interstate BancSystem by 18.1% in 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 in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of First Interstate BancSystem by 31.0% in 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 in the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.
First Interstate BancSystem Company Profile
(
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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