Citigroup Inc. Sells 5,934 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Citigroup Inc. lessened its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 179,103 shares of the financial services provider’s stock after selling 5,934 shares during the period. Citigroup Inc. owned 0.17% of First Interstate BancSystem worth $5,495,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC raised its holdings in shares of First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 430 shares during the period. Innealta Capital LLC bought a new position in First Interstate BancSystem in the second quarter worth approximately $106,000. nVerses Capital LLC grew its stake in First Interstate BancSystem by 412.5% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 3,300 shares during the period. Telos Capital Management Inc. bought a new stake in shares of First Interstate BancSystem during the third quarter valued at approximately $201,000. Finally, Washington Trust Bank acquired a new position in shares of First Interstate BancSystem during the second quarter worth approximately $204,000. 88.71% of the stock is owned by institutional investors.

Insider Buying and Selling at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 22,050 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the sale, the insider now owns 613,019 shares in the company, valued at approximately $20,720,042.20. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock valued at $1,839,583 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $34.97 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $3.66 billion, a PE ratio of 15.34 and a beta of 0.81. The stock’s 50 day moving average price is $31.93 and its 200-day moving average price is $29.80. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same period in the prior year, the business earned $0.70 earnings per share. On average, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a $0.47 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 5.38%. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

Wall Street Analyst Weigh In

FIBK has been the subject of several research reports. Wells Fargo & Company downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $30.00 to $28.00 in a research report on Tuesday, October 1st. Stephens reissued an “overweight” rating and set a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. DA Davidson raised shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and raised their price target for the company from $32.00 to $42.00 in a research report on Tuesday, November 26th. Piper Sandler decreased their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, First Interstate BancSystem presently has an average rating of “Hold” and a consensus target price of $33.83.

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.