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

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 First Interstate BancSystem stock in a transaction 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 sale, the director owned 5,224 shares in the company, valued at $157,660.32. The trade was a 69.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

First Interstate BancSystem Stock Up 6.5%

FIBK stock traded up $1.96 during midday trading on Friday, hitting $31.99. The company's stock had a trading volume of 1,028,522 shares, compared to its average volume of 877,053. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.74. First Interstate BancSystem, Inc. has a twelve month low of $22.95 and a twelve month high of $36.77. The company's fifty day moving average price is $29.54 and its 200 day moving average price is $28.64. The stock has a market capitalization of $3.35 billion, a P/E ratio of 14.41 and a beta of 0.83.

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

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Monday, August 11th. First Interstate BancSystem's dividend payout ratio (DPR) is 84.68%.

Analyst Ratings Changes

A number of research analysts have recently commented on FIBK shares. Wells Fargo & Company lifted their price objective on shares of First Interstate BancSystem from $25.00 to $28.00 and gave the company an "underweight" rating in a research report on Thursday, July 10th. Barclays raised shares of First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $28.00 to $32.00 in a research report on Tuesday, July 8th. Wall Street Zen downgraded shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research report on Monday, August 11th. Finally, Keefe, Bruyette & Woods raised shares of First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 price objective for the company in a research report on Monday, June 23rd. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, First Interstate BancSystem has a consensus rating of "Hold" and an average price target of $35.43.

Institutional Trading of First Interstate BancSystem

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wood Tarver Financial Group LLC acquired a new position in shares of First Interstate BancSystem in the 4th quarter valued at approximately $26,000. JNBA Financial Advisors acquired a new position in shares of First Interstate BancSystem in the 1st quarter valued at approximately $29,000. GAMMA Investing LLC raised its position in shares of First Interstate BancSystem by 186.5% in the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider's stock valued at $29,000 after buying an additional 647 shares in the last quarter. Quarry LP raised its position 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 valued at $33,000 after buying an additional 450 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position 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 valued at $43,000 after buying an additional 862 shares in the last quarter. Institutional investors own 88.71% of the company's stock.

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.