Insider Selling: First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Sells 1,335 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the transaction, the director now directly owns 1,414,886 shares in the company, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

First Interstate BancSystem Price Performance

FIBK opened at $32.17 on Friday. The stock’s 50-day moving average price is $32.51 and its 200 day moving average price is $31.73. First Interstate BancSystem, Inc. has a 12-month low of $24.16 and a 12-month high of $36.77. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 14.69 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.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a yield of 5.84%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 85.85%.

Hedge Funds Weigh In On First Interstate BancSystem

Several institutional investors have recently modified their holdings of FIBK. Vanguard Group Inc. raised its stake in shares of First Interstate BancSystem by 6.8% in the fourth 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 increased its holdings 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 worth $220,352,000 after purchasing an additional 1,778,269 shares during the period. Franklin Resources Inc. raised its position in First Interstate BancSystem by 2.7% in 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 purchasing an additional 145,842 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Interstate BancSystem by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,045,741 shares of the financial services provider’s stock valued at $163,836,000 after buying an additional 138,050 shares during the period. Finally, JPMorgan Chase & Co. grew its position 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 worth $95,360,000 after buying an additional 107,774 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FIBK. StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Stephens cut their target price on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Barclays upped their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. DA Davidson reissued a “buy” rating and set a $42.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, First Interstate BancSystem 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.