First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the transaction, the director now owns 1,414,886 shares of the company's stock, valued at $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
First Interstate BancSystem Price Performance
Shares of FIBK opened at $32.75 on Wednesday. The firm has a market cap of $3.42 billion, a PE ratio of 14.95 and a beta of 0.85. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $32.61 and a two-hundred day simple moving average of $31.69. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77.
First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. On average, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.
First Interstate BancSystem Announces Dividend
The firm also recently disclosed 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend is Monday, February 10th. First Interstate BancSystem's payout ratio is 85.84%.
Institutional Investors Weigh In On First Interstate BancSystem
A number of hedge funds have recently modified their holdings of FIBK. FMR LLC grew its position in shares of 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 during the period. Wellington Management Group LLP grew its position in shares of First Interstate BancSystem by 88.3% during the 4th quarter. Wellington Management Group LLP now owns 2,425,615 shares of the financial services provider's stock valued at $78,760,000 after acquiring an additional 1,137,401 shares during the period. Victory Capital Management Inc. grew its position in shares of First Interstate BancSystem by 309.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider's stock valued at $41,247,000 after acquiring an additional 960,372 shares during the period. Norges Bank bought a new stake in shares of First Interstate BancSystem during the 4th quarter valued at $24,137,000. Finally, Jennison Associates LLC grew its position in shares of First Interstate BancSystem by 73.9% during 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 acquiring an additional 654,688 shares during the period. Institutional investors own 88.71% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on FIBK shares. Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an "underweight" rating in a report on Monday, February 3rd. Piper Sandler decreased their price objective on shares of First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. StockNews.com lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Tuesday, December 24th. Finally, DA Davidson restated a "buy" rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $36.14.
View Our Latest Stock Analysis on First Interstate BancSystem
First Interstate BancSystem Company Profile
(
Get Free Report)
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.
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