First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) major shareholder Julie A. Scott sold 20,220 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the transaction, the insider now owns 635,069 shares in the company, valued at $20,817,561.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
First Interstate BancSystem Stock Down 0.6 %
Shares of NASDAQ FIBK opened at $33.74 on Wednesday. The company has a 50 day simple moving average of $30.81 and a 200 day simple moving average of $29.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.79. First Interstate BancSystem, Inc. has a 1 year low of $22.89 and a 1 year high of $34.53. The firm has a market cap of $3.53 billion, a PE ratio of 14.80 and a beta of 0.81.
First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts' consensus estimates 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 quarter last year, the business posted $0.70 EPS. On average, research analysts forecast that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.57%. The ex-dividend date of this dividend is Monday, November 4th. First Interstate BancSystem's payout ratio is presently 82.46%.
Wall Street Analysts Forecast Growth
Several research firms have commented on FIBK. Wells Fargo & Company lowered shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $30.00 to $28.00 in a report on Tuesday, October 1st. Barclays cut First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $32.00 to $30.00 in a research note on Thursday, October 31st. Keefe, Bruyette & Woods upped their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a "market perform" rating in a research report on Monday, July 29th. StockNews.com upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Tuesday. Finally, Piper Sandler dropped their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, First Interstate BancSystem has an average rating of "Hold" and a consensus price target of $32.50.
Get Our Latest Analysis on First Interstate BancSystem
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in FIBK. TNF LLC raised its stake in First Interstate BancSystem by 1.5% during the third quarter. TNF LLC now owns 25,376 shares of the financial services provider's stock worth $812,000 after buying an additional 367 shares during the last quarter. Caprock Group LLC boosted its position in shares of First Interstate BancSystem by 1.7% during the 2nd quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider's stock valued at $713,000 after purchasing an additional 422 shares in the last quarter. Wrapmanager Inc. grew its stake in First Interstate BancSystem by 5.0% during the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider's stock worth $275,000 after purchasing an additional 429 shares during the period. CWM LLC increased its holdings in First Interstate BancSystem by 16.0% in the second quarter. CWM LLC now owns 3,123 shares of the financial services provider's stock worth $87,000 after purchasing an additional 430 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of First Interstate BancSystem by 5.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider's stock worth $311,000 after buying an additional 507 shares in the last quarter. Institutional investors own 88.71% of the company's stock.
About First Interstate BancSystem
(
Get Free Report)
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.
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