First Interstate BancSystem, Inc. (NASDAQ:FIBK) Director Sells $43,467.60 in Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the sale, the director now owns 1,414,886 shares of the company's stock, valued at $46,068,688.16. This 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 Stock Down 3.2 %

FIBK traded down $1.04 on Friday, hitting $31.13. The company had a trading volume of 462,420 shares, compared to its average volume of 574,765. The stock has a fifty day simple moving average of $32.51 and a 200-day simple moving average of $31.73. 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 firm has a market capitalization of $3.25 billion, a P/E ratio of 14.22 and a beta of 0.85. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 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%. As a group, equities analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem's dividend payout ratio is presently 85.85%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. TNF LLC increased its stake in shares of First Interstate BancSystem by 1.5% during the third quarter. TNF LLC now owns 25,376 shares of the financial services provider's stock valued at $812,000 after purchasing an additional 367 shares in the last quarter. Wrapmanager Inc. grew its stake in shares of First Interstate BancSystem by 5.0% in the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider's stock worth $275,000 after buying an additional 429 shares during the last quarter. Evergreen Capital Management LLC increased its position in First Interstate BancSystem by 1.9% during the 4th quarter. Evergreen Capital Management LLC now owns 24,580 shares of the financial services provider's stock valued at $798,000 after buying an additional 468 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in First Interstate BancSystem by 5.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider's stock valued at $311,000 after buying an additional 507 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in First Interstate BancSystem by 25.8% in the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock worth $81,000 after acquiring an additional 510 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FIBK shares. Wells Fargo & Company increased their price objective on First Interstate BancSystem from $29.00 to $30.00 and gave the company an "underweight" rating in a research note on Monday, February 3rd. DA Davidson reissued a "buy" rating and issued a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 30th. UBS Group began coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They set a "neutral" rating and a $35.00 price objective for the company. Barclays raised their target price on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an "underweight" rating in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods upped their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Three research 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 data from MarketBeat, the stock 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.