First Interstate Bancsystem Inc (NASDAQ:FIBK) major shareholder Homer A. Scott, Jr. sold 9,400 shares of the firm’s stock in a transaction on Saturday, December 2nd. The stock was sold at an average price of $38.38, for a total transaction of $360,772.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
First Interstate Bancsystem Inc (FIBK) traded down $0.20 during trading on Wednesday, hitting $39.10. The company had a trading volume of 123,001 shares, compared to its average volume of 222,971. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $2,261.02, a P/E ratio of 17.34, a P/E/G ratio of 1.90 and a beta of 1.18. First Interstate Bancsystem Inc has a 52 week low of $33.33 and a 52 week high of $45.35.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.96 annualized dividend and a yield of 2.46%. First Interstate Bancsystem’s dividend payout ratio is 48.24%.
A number of institutional investors and hedge funds have recently modified their holdings of FIBK. SG Americas Securities LLC bought a new position in First Interstate Bancsystem in the 3rd quarter worth $105,000. BNP Paribas Arbitrage SA raised its stake in shares of First Interstate Bancsystem by 622.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 2,559 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of First Interstate Bancsystem by 955.6% during the second quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 2,733 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of First Interstate Bancsystem during the second quarter valued at approximately $142,000. Finally, Victory Capital Management Inc. raised its stake in shares of First Interstate Bancsystem by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 680 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.
FIBK has been the subject of several research reports. ValuEngine downgraded shares of First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Barclays set a $43.00 price objective on shares of First Interstate Bancsystem and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research upgraded First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $43.25.
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First Interstate Bancsystem Company Profile
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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