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

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

First Interstate BancSystem Trading Down 0.2 %

Shares of NASDAQ:FIBK opened at $32.69 on Thursday. First Interstate BancSystem, Inc. has a 1 year low of $24.16 and a 1 year high of $36.77. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 14.93 and a beta of 0.85. 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 business’s 50 day moving average price is $32.55 and its 200-day moving average price is $31.73.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 10th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.75%. First Interstate BancSystem’s dividend payout ratio (DPR) is 85.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FIBK. BNP Paribas Financial Markets raised its stake in First Interstate BancSystem by 97.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,779 shares of the financial services provider’s stock valued at $975,000 after purchasing an additional 15,649 shares during the last quarter. Jane Street Group LLC raised its stake in First Interstate BancSystem by 13.9% in the 3rd quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider’s stock valued at $5,770,000 after purchasing an additional 22,899 shares during the last quarter. Barclays PLC raised its stake in First Interstate BancSystem by 18.6% in the 3rd quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock valued at $6,326,000 after purchasing an additional 32,298 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in First Interstate BancSystem by 37,734.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider’s stock valued at $4,595,000 after purchasing an additional 141,128 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in First Interstate BancSystem by 73.9% in the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock valued at $50,020,000 after purchasing an additional 654,688 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays upped their target price 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. Wells Fargo & Company upped their target price on First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Piper Sandler lowered their price objective on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Tuesday, December 24th. Three equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.