First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director John M. Heyneman, Jr. Sells 1,335 Shares

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the sale, the director now directly owns 1,414,886 shares of the company’s stock, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

First Interstate BancSystem Stock Performance

NASDAQ FIBK opened at $32.69 on Thursday. The stock has a market cap of $3.42 billion, a PE ratio of 14.93 and a beta of 0.85. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77. The stock has a fifty day simple moving average of $32.55 and a 200-day simple moving average of $31.73.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating 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%. Equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 10th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date is Monday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is 85.85%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group assumed coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price for the company. Keefe, Bruyette & Woods raised their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler cut their target price on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Stephens cut their target price on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Wells Fargo & Company increased their price target on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, First Interstate BancSystem presently has a consensus rating of “Hold” and a consensus price target of $36.14.

Hedge Funds Weigh In On First Interstate BancSystem

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. TNF LLC boosted its holdings in First Interstate BancSystem by 1.5% during the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock valued at $812,000 after acquiring an additional 367 shares during the period. Wrapmanager Inc. boosted its holdings in First Interstate BancSystem by 5.0% during the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 429 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of First Interstate BancSystem by 1.9% in the 4th quarter. Evergreen Capital Management LLC now owns 24,580 shares of the financial services provider’s stock valued at $798,000 after buying an additional 468 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of First Interstate BancSystem by 5.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after buying an additional 507 shares during the period. Finally, Covestor Ltd boosted its stake in shares of First Interstate BancSystem by 25.8% in the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock valued at $81,000 after buying an additional 510 shares during the period. 88.71% of the stock is currently owned by hedge funds and other 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.