First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director John M. Heyneman, Jr. Sells 11,818 Shares

Key Points

• Director John M. Heyneman, Jr. sold 11,818 shares of First Interstate BancSystem at an average price of $30.18, which resulted in a total transaction of approximately $356,667 and a 69.35% decrease in his ownership.
• The company recently announced a quarterly dividend of $0.47, with an annualized yield of 6.2% and a payout ratio of 84.68%.
• First Interstate BancSystem's most recent earnings report showed an EPS of $0.69, exceeding analysts' expectations, with revenue up 1.6% compared to the same quarter last year.

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) Director John M. Heyneman, Jr. sold 11,818 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $30.18, for a total transaction of $356,667.24. Following the completion of the transaction, the director owned 5,224 shares in the company, valued at $157,660.32. This represents a 69.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK traded up $0.29 during midday trading on Monday, reaching $30.33. The stock had a trading volume of 418,633 shares, compared to its average volume of 906,186. The firm has a fifty day simple moving average of $29.29 and a two-hundred day simple moving average of $28.66. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.18 billion, a P/E ratio of 13.66 and a beta of 0.83.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.12. First Interstate BancSystem had a return on equity of 6.82% and a net margin of 16.04%. The company had revenue of $248.30 million during the quarter, compared to the consensus estimate of $253.73 million. During the same quarter last year, the company earned $0.58 earnings per share. First Interstate BancSystem's quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Monday, August 11th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.88 dividend on an annualized basis and a yield of 6.2%. First Interstate BancSystem's dividend payout ratio (DPR) is 84.68%.

Wall Street Analysts Forecast Growth

FIBK has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on shares of First Interstate BancSystem from $25.00 to $28.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Barclays upgraded shares of First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $28.00 to $32.00 in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 target price on the stock in a research report on Monday, June 23rd. Finally, Wall Street Zen lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research report on Monday, August 11th. Two research 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $35.43.

Institutional Investors Weigh In On First Interstate BancSystem

A number of hedge funds and other institutional investors have recently bought and sold shares of FIBK. Wood Tarver Financial Group LLC acquired a new stake in First Interstate BancSystem in the fourth quarter valued at $26,000. JNBA Financial Advisors acquired a new position in shares of First Interstate BancSystem during the 1st quarter worth $29,000. GAMMA Investing LLC raised its stake in shares of First Interstate BancSystem by 186.5% during the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider's stock worth $29,000 after buying an additional 647 shares during the last quarter. Quarry LP raised its stake in shares of First Interstate BancSystem by 63.8% during the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider's stock worth $33,000 after buying an additional 450 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of First Interstate BancSystem by 139.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider's stock worth $43,000 after buying an additional 862 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.

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.

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