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 firm’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 value of $327,500.00. Following the transaction, the insider owned 224,460 shares in the company, valued at $7,351,065. This represents a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 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 value of $315,900.00.

First Interstate BancSystem Trading Up 0.6%

Shares of NASDAQ FIBK traded up $0.18 on Monday, reaching $33.02. 1,089,698 shares of the company traded hands, compared to its average volume of 870,844. The stock has a market capitalization of $3.40 billion, a PE ratio of 13.95 and a beta of 0.83. First Interstate BancSystem, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $35.25. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $31.72 and a 200 day moving average of $30.37.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, October 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $204.70 million during the quarter, compared to the consensus estimate of $254.71 million. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 7.30%. During the same period in the previous year, the firm earned $0.54 earnings per share. On average, equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company boosted their price objective 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. Wall Street Zen downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday. DA Davidson lifted their price target on First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, September 12th. Barclays raised their target price on shares of First Interstate BancSystem from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings upgraded First Interstate BancSystem from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, November 24th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.57.

Institutional Trading of First Interstate BancSystem

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambria Investment Management L.P. purchased a new position in First Interstate BancSystem in the third quarter worth about $9,083,000. CIBC Private Wealth Group LLC bought a new position in shares of First Interstate BancSystem during the third quarter valued at $52,000. CIBC Bancorp USA Inc. purchased a new stake in shares of First Interstate BancSystem during the third quarter valued at $304,000. WBI Investments LLC raised its position in First Interstate BancSystem by 26.0% in the 3rd quarter. WBI Investments LLC now owns 15,748 shares of the financial services provider’s stock worth $502,000 after buying an additional 3,249 shares during the last quarter. Finally, Tweedy Browne Co LLC raised its position in First Interstate BancSystem by 104.2% in the 3rd quarter. Tweedy Browne Co LLC now owns 27,239 shares of the financial services provider’s stock worth $868,000 after buying an additional 13,902 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.