First Interstate BancSystem, Inc. (NASDAQ:FIBK) Major Shareholder Sells $1,711,050.00 in Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $31.11, for a total transaction of $1,711,050.00. Following the completion of the transaction, the insider owned 584,256 shares of the company's stock, valued at approximately $18,176,204.16. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

First Interstate BancSystem Price Performance

FIBK traded down $0.01 during trading hours on Friday, hitting $30.76. The company's stock had a trading volume of 215,169 shares, compared to its average volume of 710,907. The business's 50-day moving average price is $28.16 and its 200-day moving average price is $29.13. First Interstate BancSystem, Inc. has a 12 month low of $22.95 and a 12 month high of $36.77. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 14.60 and a beta of 0.79. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). First Interstate BancSystem had a return on equity of 6.57% and a net margin of 14.93%. The firm had revenue of $42.00 million for the quarter, compared to analysts' expectations of $253.50 million. During the same period in the previous year, the firm earned $0.57 earnings per share. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.11%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's payout ratio is 89.10%.

Institutional Trading of First Interstate BancSystem

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in First Interstate BancSystem by 2,336.8% in the 1st quarter. GAMMA Investing LLC now owns 9,942 shares of the financial services provider's stock worth $285,000 after purchasing an additional 9,534 shares in the last quarter. Swiss National Bank lifted its position in shares of First Interstate BancSystem by 0.5% during the 4th quarter. Swiss National Bank now owns 185,046 shares of the financial services provider's stock valued at $6,008,000 after buying an additional 1,000 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of First Interstate BancSystem by 39.7% during the 4th quarter. Ameriprise Financial Inc. now owns 62,928 shares of the financial services provider's stock valued at $2,043,000 after buying an additional 17,879 shares in the last quarter. First Interstate Bank lifted its position in shares of First Interstate BancSystem by 14.1% during the 1st quarter. First Interstate Bank now owns 5,053,342 shares of the financial services provider's stock valued at $144,778,000 after buying an additional 624,268 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of First Interstate BancSystem by 26.4% during the 1st quarter. KBC Group NV now owns 5,079 shares of the financial services provider's stock valued at $146,000 after buying an additional 1,061 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays raised shares of First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $28.00 to $32.00 in a research report on Tuesday, July 8th. Wall Street Zen raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. 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 on the stock in a research report on Monday, June 23rd. Finally, Wells Fargo & Company increased 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $35.43.

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.