Julie Scott Sells 15,000 Shares of First Interstate BancSystem (NASDAQ:FIBK) Stock

by · The Cerbat Gem

First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Free Report) major shareholder Julie Scott sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.97, for a total transaction of $539,550.00. Following the completion of the sale, the insider owned 488,359 shares of the company’s stock, valued at $17,566,273.23. The trade was a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Price Performance

Shares of FIBK stock traded up $0.79 during trading hours on Thursday, reaching $36.43. 2,426,846 shares of the company were exchanged, compared to its average volume of 1,178,048. First Interstate BancSystem, Inc. has a fifty-two week low of $26.16 and a fifty-two week high of $39.26. The stock’s fifty day moving average is $35.13 and its two-hundred day moving average is $35.34. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 11.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70.

First Interstate BancSystem (NASDAQ:FIBK – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $5.10 million for the quarter, compared to analysts’ expectations of $242.78 million. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.13%. During the same period in the prior year, the firm earned $0.49 earnings per share. Sell-side analysts forecast that First Interstate BancSystem, Inc. will post 2.66 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Monday, May 11th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 61.24%.

Institutional Trading of First Interstate BancSystem

Institutional investors and hedge funds have recently made changes to their positions in the business. Eurizon Capital SGR S.p.A. acquired a new position in shares of First Interstate BancSystem in the 4th quarter valued at $25,000. Kestra Advisory Services LLC acquired a new stake in shares of First Interstate BancSystem during the fourth quarter worth $29,000. First Horizon Corp increased its holdings in First Interstate BancSystem by 56.0% in the fourth quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 455 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in First Interstate BancSystem by 139.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 862 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in First Interstate BancSystem by 49.6% in the fourth quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 516 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FIBK. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. UBS Group raised their price target on First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a report on Friday, May 1st. Weiss Ratings lowered First Interstate BancSystem from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. DA Davidson cut First Interstate BancSystem from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $41.00 to $39.00 in a report on Wednesday, May 27th. Finally, Wells Fargo & Company upped their target price on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the company an “underweight” rating in a research report on Monday, March 30th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, First Interstate BancSystem has a consensus rating of “Hold” and a consensus target price of $37.00.

Read Our Latest Stock Report on First Interstate BancSystem

First Interstate BancSystem Company Profile

(Get Free Report)

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.

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