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

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

First Interstate BancSystem Stock Up 0.2 %

NASDAQ FIBK opened at $32.75 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $3.42 billion, a PE ratio of 14.95 and a beta of 0.85. First Interstate BancSystem, Inc. has a 1 year low of $24.16 and a 1 year high of $36.77. The business’s 50-day moving average is $32.61 and its 200 day moving average is $31.69.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. Sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 5.74%. First Interstate BancSystem’s payout ratio is 85.84%.

Institutional Trading of First Interstate BancSystem

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in First Interstate BancSystem by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider’s stock valued at $299,691,000 after acquiring an additional 587,975 shares in the last quarter. FMR LLC boosted its position in First Interstate BancSystem by 35.5% during the 4th quarter. FMR LLC now owns 6,786,334 shares of the financial services provider’s stock valued at $220,352,000 after acquiring an additional 1,778,269 shares in the last quarter. Franklin Resources Inc. boosted its position in First Interstate BancSystem by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 5,474,757 shares of the financial services provider’s stock valued at $177,765,000 after acquiring an additional 145,842 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Interstate BancSystem by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,045,741 shares of the financial services provider’s stock valued at $163,836,000 after purchasing an additional 138,050 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of First Interstate BancSystem by 3.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,936,868 shares of the financial services provider’s stock valued at $95,360,000 after purchasing an additional 107,774 shares during the last quarter. 88.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FIBK. Barclays raised their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Piper Sandler reduced their price objective on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group began coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price objective on the stock. Stephens reduced their price objective on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Wells Fargo & Company raised their price objective on First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.14.

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.