First Interstate BancSystem (NASDAQ:FIBK) Stock: Insider James Scott Jr Sells 3,108 Shares

Key Points

• Director James Scott Jr. sold 3,108 FIBK shares at $38 per share for approximately $118,104, reducing his direct ownership by 3.85% to 77,634 shares.
• First Interstate BancSystem shares fell 2.6% to $37.73, while the company’s latest quarterly earnings of $0.65 per share missed analysts’ $0.68 estimate.
• The company announced a quarterly dividend of $0.47 per share, equivalent to an annualized $1.88 payout and a 5.0% yield; analysts’ consensus rating was “Reduce,” with a $37.14 price target.

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) Director James Scott, Jr. sold 3,108 shares of the firm's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $38.00, for a total value of $118,104.00. Following the completion of the sale, the director directly owned 77,634 shares in the company, valued at $2,950,092. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

First Interstate BancSystem Stock Down 2.6%

Shares of NASDAQ FIBK traded down $1.00 during trading on Tuesday, reaching $37.73. The company had a trading volume of 459,959 shares, compared to its average volume of 1,158,353. The stock has a market cap of $3.60 billion, a PE ratio of 11.75 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. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.09. The business's 50-day moving average is $36.48 and its 200 day moving average is $36.30.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.65 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 the consensus estimate of $247.93 million. First Interstate BancSystem had a return on equity of 9.49% and a net margin of 29.18%. As a group, equities analysts forecast that First Interstate BancSystem, Inc. will post 2.79 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, November 3rd will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.0%. First Interstate BancSystem's dividend payout ratio is presently 58.57%.

Institutional Investors Weigh In On First Interstate BancSystem

Several large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new position in shares of First Interstate BancSystem in the 2nd quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new stake in shares of First Interstate BancSystem in the third quarter valued at about $25,000. Allworth Financial LP purchased a new position in First Interstate BancSystem in the 2nd quarter valued at about $62,000. Public Employees Retirement System of Ohio acquired a new stake in First Interstate BancSystem in the 2nd quarter valued at $65,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in First Interstate BancSystem by 17.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,099 shares of the financial services provider's stock worth $70,000 after buying an additional 315 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FIBK shares. 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. Benchmark raised First Interstate BancSystem to a "hold" rating in a report on Wednesday, September 23rd. DA Davidson reaffirmed a "neutral" rating and issued a $39.00 price target on shares of First Interstate BancSystem in a research note on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Interstate BancSystem in a report on Monday, September 28th. Finally, Wall Street Zen lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Saturday, October 24th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $37.14.

About First Interstate BancSystem

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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