First Interstate BancSystem (NASDAQ:FIBK) Major Shareholder Sells $315,900.00 in Stock

Key Points

• Major shareholder Susan Scott Heyneman Trust sold 10,000 shares of First Interstate BancSystem stock for $315,900, reducing their stake by 3.93%.
• The company announced a quarterly dividend of $0.47 per share, equating to an annualized yield of 5.9%.
• First Interstate BancSystem's shares recently traded at $31.99, reflecting a 1.0% increase, with an average price target of $35.14 among analysts.

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $31.59, for a total transaction of $315,900.00. Following the transaction, the insider directly owned 244,460 shares of the company's stock, valued at $7,722,491.40. The trade was a 3.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Susan Scott Heyneman Trust, Su also recently made the following trade(s):

• On Friday, August 1st, Susan Scott Heyneman Trust, Su sold 55,000 shares of First Interstate BancSystem stock. The shares were sold at an average price of $27.86, for a total transaction of $1,532,300.00.
• On Monday, July 14th, Susan Scott Heyneman Trust, Su sold 55,000 shares of First Interstate BancSystem stock. The shares were sold at an average price of $31.11, for a total transaction of $1,711,050.00.

First Interstate BancSystem Stock Up 1.0%

Shares of First Interstate BancSystem stock traded up $0.30 during trading on Friday, hitting $31.99. 257,959 shares of the stock were exchanged, compared to its average volume of 840,660. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 14.40 and a beta of 0.79. The firm's 50-day moving average price is $31.32 and its 200 day moving average price is $29.02. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77. 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 (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.69 EPS for the quarter, topping 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 last year, the business earned $0.58 EPS. First Interstate BancSystem's revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an "underweight" rating in a research note on Monday. DA Davidson boosted their price target on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 price target on the stock in a research note on Monday, June 23rd. Barclays upgraded shares of First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $28.00 to $32.00 in a research note on Tuesday, July 8th. Finally, Wall Street Zen lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $35.14.

Institutional Trading of First Interstate BancSystem

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of First Interstate BancSystem by 186.5% in the second quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 647 shares in the last quarter. JNBA Financial Advisors purchased a new stake in shares of First Interstate BancSystem in the first quarter valued at about $29,000. Quarry LP lifted its holdings in shares of First Interstate BancSystem by 63.8% in the first quarter. Quarry LP now owns 1,155 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 450 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of First Interstate BancSystem by 139.3% in the second 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 during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of First Interstate BancSystem by 1,258.8% in the first quarter. Exchange Traded Concepts LLC now owns 4,851 shares of the financial services provider's stock valued at $139,000 after buying an additional 4,494 shares during the last quarter. Hedge funds and other 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.

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