First Interstate BancSystem, Inc. (NASDAQ:FIBK) Short Interest Up 58.1% in December

First Interstate BancSystem, Inc. (NASDAQ:FIBK) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totaling 8,147,898 shares, an increase of 58.1% from the November 30th total of 5,153,664 shares. Based on an average daily volume of 2,672,488 shares, the short-interest ratio is presently 3.0 days. Approximately 8.6% of the company’s stock are sold short. Approximately 8.6% of the company’s stock are sold short. Based on an average daily volume of 2,672,488 shares, the short-interest ratio is presently 3.0 days.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $32.75, for a total transaction of $327,500.00. Following the transaction, the insider owned 224,460 shares in the company, valued at approximately $7,351,065. This represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John M. Heyneman, Jr. sold 30,432 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $31.03, for a total value of $944,304.96. Following the transaction, the director directly owned 1,414,636 shares in the company, valued at approximately $43,896,155.08. This trade represents a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 92,232 shares of company stock valued at $2,913,388. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. First Horizon Corp purchased a new position in First Interstate BancSystem in the third quarter worth $26,000. GAMMA Investing LLC lifted its stake in First Interstate BancSystem by 186.5% during the second quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 647 shares during the last quarter. Quarry LP boosted its holdings in shares of First Interstate BancSystem by 63.8% in the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 450 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 862 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of First Interstate BancSystem by 1,485.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 0.2%

Shares of NASDAQ FIBK opened at $35.93 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.74 and a quick ratio of 0.73. The stock has a market capitalization of $3.70 billion, a PE ratio of 15.16 and a beta of 0.82. First Interstate BancSystem has a one year low of $22.95 and a one year high of $36.35. The business’s fifty day moving average price is $33.00 and its 200-day moving average price is $31.46.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter. The business had revenue of $250.50 million for the quarter. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%. On average, equities research analysts anticipate that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Monday, November 10th. First Interstate BancSystem’s payout ratio is presently 79.32%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. DA Davidson raised their target price on First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, September 12th. Wall Street Zen cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. UBS Group lifted their price objective on shares of First Interstate BancSystem from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Monday, December 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $36.86.

About First Interstate BancSystem

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.