First Interstate BancSystem, Inc. (NASDAQ:FIBK) Short Interest Up 7.7% in January

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 2,510,000 shares, a growth of 7.7% from the December 31st total of 2,330,000 shares. Based on an average daily volume of 633,900 shares, the short-interest ratio is presently 4.0 days.

First Interstate BancSystem Stock Performance

FIBK stock traded down $0.37 during midday trading on Friday, hitting $32.86. The company's stock had a trading volume of 352,554 shares, compared to its average volume of 604,001. The stock's 50-day moving average price is $32.88 and its 200 day moving average price is $31.64. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a 1 year low of $24.16 and a 1 year high of $36.77. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 15.01 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. On average, equities analysts forecast that First Interstate BancSystem will post 2.54 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 10th will be issued a $0.47 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 5.72%. First Interstate BancSystem's dividend payout ratio is currently 85.85%.

Analyst Ratings Changes

A number of brokerages have recently commented on FIBK. Stephens cut their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their price target on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an "underweight" rating in a research report on Monday. StockNews.com cut shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Tuesday, December 24th. Finally, DA Davidson reiterated a "buy" rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, First Interstate BancSystem has an average rating of "Hold" and a consensus price target of $36.14.

Insider Buying and Selling

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the sale, the insider now directly owns 75,387 shares in the company, valued at approximately $2,600,851.50. The trade was a 7.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan R. Scott sold 6,500 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the sale, the director now owns 958,710 shares of the company's stock, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,617 shares of company stock worth $1,176,772. Corporate insiders own 6.90% of the company's stock.

Institutional Trading of First Interstate BancSystem

Several large investors have recently modified their holdings of FIBK. Point72 DIFC Ltd purchased a new position in First Interstate BancSystem in the third quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in First Interstate BancSystem in the third quarter worth about $69,000. KBC Group NV raised its position in shares of First Interstate BancSystem by 34.1% during the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider's stock valued at $130,000 after purchasing an additional 1,022 shares during the period. CWM LLC lifted its position in shares of First Interstate BancSystem by 65.0% in the third quarter. CWM LLC now owns 5,152 shares of the financial services provider's stock valued at $158,000 after acquiring an additional 2,029 shares in the last quarter. Finally, Telos Capital Management Inc. bought a new position in shares of First Interstate BancSystem in the third quarter worth about $201,000. 88.71% of the stock is owned by institutional investors.

About First Interstate BancSystem

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.