John M. Heyneman, Jr. Sells 550 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director John M. Heyneman, Jr. sold 550 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $30.59, for a total value of $16,824.50. Following the completion of the transaction, the director now directly owns 1,415,151 shares in the company, valued at approximately $43,289,469.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

First Interstate BancSystem Stock Performance

FIBK opened at $31.12 on Thursday. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 12.40 and a beta of 0.82. The business’s 50-day moving average price is $29.14 and its two-hundred day moving average price is $27.36. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. First Interstate BancSystem, Inc. has a 1 year low of $20.81 and a 1 year high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. First Interstate BancSystem had a net margin of 17.76% and a return on equity of 8.22%. The company had revenue of $244.30 million for the quarter, compared to analysts’ expectations of $246.07 million. During the same period in the prior year, the firm earned $0.66 EPS. Equities analysts expect that First Interstate BancSystem, Inc. will post 2.32 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend was Monday, August 5th. First Interstate BancSystem’s dividend payout ratio is currently 74.90%.

Institutional Trading of First Interstate BancSystem

A number of institutional investors have recently modified their holdings of FIBK. Vanguard Group Inc. boosted its position in shares of First Interstate BancSystem by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock worth $282,303,000 after acquiring an additional 533,293 shares in the last quarter. Franklin Resources Inc. raised its stake in First Interstate BancSystem by 36.2% during the fourth quarter. Franklin Resources Inc. now owns 5,453,783 shares of the financial services provider’s stock worth $167,704,000 after acquiring an additional 1,449,219 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Interstate BancSystem by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock worth $127,204,000 after acquiring an additional 367,212 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of First Interstate BancSystem by 5.0% in the 4th quarter. Wellington Management Group LLP now owns 2,970,727 shares of the financial services provider’s stock valued at $91,350,000 after purchasing an additional 142,069 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of First Interstate BancSystem by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider’s stock worth $56,974,000 after buying an additional 32,348 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FIBK. DA Davidson increased their price target on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price target on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Stephens upped their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Piper Sandler reiterated an “overweight” rating and set a $38.00 target price on shares of First Interstate BancSystem in a report on Monday. Finally, Barclays increased their price target on First Interstate BancSystem from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.33.

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.