First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Rating) Director Jonathan R. Scott sold 30,000 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $44.16, for a total transaction of $1,324,800.00. Following the completion of the transaction, the director now directly owns 963,853 shares of the company’s stock, valued at approximately $42,563,748.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
First Interstate BancSystem Stock Up 0.3 %
Shares of NASDAQ:FIBK opened at $44.16 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 0.30. First Interstate BancSystem, Inc. has a 12 month low of $32.40 and a 12 month high of $46.34. The company has a 50-day moving average price of $42.65 and a 200 day moving average price of $39.66. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 23.74 and a beta of 0.91.
First Interstate BancSystem (NASDAQ:FIBK – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.12). First Interstate BancSystem had a net margin of 16.71% and a return on equity of 9.58%. The business had revenue of $291.80 million during the quarter, compared to the consensus estimate of $299.74 million. During the same period in the previous year, the business posted $0.86 EPS. The firm’s revenue was up 75.2% on a year-over-year basis. As a group, equities research analysts predict that First Interstate BancSystem, Inc. will post 3.11 earnings per share for the current year.
First Interstate BancSystem Increases Dividend
Analysts Set New Price Targets
Several research analysts have commented on FIBK shares. Stephens increased their price objective on shares of First Interstate BancSystem from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, October 31st. Wells Fargo & Company increased their price objective on shares of First Interstate BancSystem from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, October 6th. TheStreet raised shares of First Interstate BancSystem from a “c” rating to a “b” rating in a report on Monday, August 29th. StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Finally, Piper Sandler increased their price objective on shares of First Interstate BancSystem to $54.00 in a report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.40.
Institutional Trading of First Interstate BancSystem
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new stake in First Interstate BancSystem in the 1st quarter worth about $30,000. Fisher Asset Management LLC raised its position in First Interstate BancSystem by 50.0% in the 1st quarter. Fisher Asset Management LLC now owns 183,008 shares of the financial services provider’s stock worth $6,729,000 after purchasing an additional 61,008 shares during the period. Kennedy Capital Management Inc. raised its position in First Interstate BancSystem by 3.3% in the 2nd quarter. Kennedy Capital Management Inc. now owns 885,648 shares of the financial services provider’s stock worth $33,752,000 after purchasing an additional 28,456 shares during the period. Leeward Investments LLC MA purchased a new stake in First Interstate BancSystem in the 1st quarter worth about $21,591,000. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of First Interstate BancSystem during the first quarter worth approximately $6,585,000. 84.37% of the stock is owned by hedge funds and other institutional investors.
First Interstate BancSystem Company Profile
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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