Susan Scott Heyneman Trust, Su Sells 10,000 Shares of First Interstate BancSystem (NASDAQ:FIBK) Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $32.75, for a total transaction of $327,500.00. Following the completion of the transaction, the insider owned 224,460 shares in the company, valued at $7,351,065. This trade represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, November 3rd, Susan Scott Heyneman Trust, Su sold 10,000 shares of First Interstate BancSystem stock. The stock was sold at an average price of $30.99, for a total transaction of $309,900.00.
• On Wednesday, October 1st, Susan Scott Heyneman Trust, Su sold 10,000 shares of First Interstate BancSystem stock. The stock was sold at an average price of $31.59, for a total transaction of $315,900.00.

First Interstate BancSystem Stock Performance

Shares of FIBK opened at $32.78 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $3.37 billion, a P/E ratio of 13.83 and a beta of 0.82. The firm’s fifty day simple moving average is $31.72 and its two-hundred day simple moving average is $30.44. First Interstate BancSystem, Inc. has a 12 month low of $22.95 and a 12 month high of $35.16.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, October 29th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%.The company had revenue of $204.70 million for the quarter, compared to analyst estimates of $254.71 million. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Monday, November 10th. First Interstate BancSystem’s dividend payout ratio is presently 79.32%.

Hedge Funds Weigh In On First Interstate BancSystem

Several large investors have recently added to or reduced their stakes in the business. First Horizon Corp bought a new stake in shares of First Interstate BancSystem in the 3rd quarter worth $26,000. GAMMA Investing LLC boosted its holdings in First Interstate BancSystem by 186.5% during the second quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 647 shares during the last quarter. Quarry LP grew its position in First Interstate BancSystem by 63.8% in the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 450 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in 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 during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in First Interstate BancSystem by 1,485.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock valued at $52,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. UBS Group lifted their price target on shares of First Interstate BancSystem from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Barclays increased their price objective on shares of First Interstate BancSystem from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. DA Davidson raised their target price on First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, Wells Fargo & Company upped their price target on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.57.

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.