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 First Interstate BancSystem stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $31.59, for a total value of $315,900.00. Following the transaction, the insider owned 244,460 shares in the company, valued at $7,722,491.40. This trade represents a 3.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 value 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 value of $1,711,050.00.

First Interstate BancSystem Stock Up 0.6%

Shares of First Interstate BancSystem stock opened at $31.89 on Friday. The business’s 50 day simple moving average is $31.36 and its 200 day simple moving average is $29.04. First Interstate BancSystem, Inc. has a 52-week low of $22.95 and a 52-week high of $36.77. The firm has a market cap of $3.34 billion, a PE ratio of 14.36 and a beta of 0.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.74 and a current ratio of 0.75.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. First Interstate BancSystem had a return on equity of 6.82% and a net margin of 16.04%.The business had revenue of $248.30 million for the quarter, compared to analyst estimates of $253.73 million. During the same quarter last year, the firm earned $0.58 EPS. First Interstate BancSystem’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts predict that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Monday, August 11th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 84.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FIBK. Wall Street Zen lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Monday, August 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Saturday, September 27th. Barclays upgraded First Interstate BancSystem from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $28.00 to $32.00 in a research note on Tuesday, July 8th. DA Davidson raised their price target 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 raised their price target on First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cullen Capital Management LLC boosted its stake in shares of First Interstate BancSystem by 9.1% during the 2nd quarter. Cullen Capital Management LLC now owns 19,877 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 1,663 shares during the period. American Trust bought a new position in shares of First Interstate BancSystem during the 2nd quarter worth approximately $823,000. Kestra Investment Management LLC lifted its holdings in First Interstate BancSystem by 26.7% during the 2nd quarter. Kestra Investment Management LLC now owns 37,886 shares of the financial services provider’s stock worth $1,092,000 after purchasing an additional 7,973 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in First Interstate BancSystem by 6.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 25,125 shares of the financial services provider’s stock worth $724,000 after purchasing an additional 1,415 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in First Interstate BancSystem during the 2nd quarter worth approximately $216,000. 88.71% of the stock is currently owned by 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.