First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) Director Jonathan R. Scott sold 6,500 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the sale, the director now owns 958,710 shares in the company, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
First Interstate BancSystem Stock Down 1.0 %
FIBK stock traded down $0.33 during trading on Friday, hitting $32.95. 43,610 shares of the company's stock traded hands, compared to its average volume of 674,063. The firm has a market capitalization of $3.44 billion, a P/E ratio of 14.60 and a beta of 0.81. First Interstate BancSystem, Inc. has a 1 year low of $24.16 and a 1 year high of $34.53. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $30.94 and a two-hundred day simple moving average of $29.22.
First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 previous year, the company earned $0.70 earnings per share. Sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.
First Interstate BancSystem Announces Dividend
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The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem's payout ratio is 82.46%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of FIBK. Point72 Asia Singapore Pte. Ltd. purchased a new stake in First Interstate BancSystem during the third quarter valued at approximately $69,000. CWM LLC increased its position 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 worth $87,000 after purchasing an additional 430 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of First Interstate BancSystem during the 2nd quarter valued at $106,000. nVerses Capital LLC boosted its position in shares of First Interstate BancSystem by 412.5% in the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider's stock worth $114,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Telos Capital Management Inc. acquired a new position in First Interstate BancSystem during the 3rd quarter valued at about $201,000. Hedge funds and other institutional investors own 88.71% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on FIBK shares. Piper Sandler decreased their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. DA Davidson upped their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the company a "neutral" rating in a research report on Monday, July 29th. Stephens reiterated an "overweight" rating and set a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a "market perform" rating in a research note on Monday, July 29th. Finally, StockNews.com upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $32.50.
Check Out Our Latest Stock Report on First Interstate BancSystem
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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