Key Points
- Director John Heyneman Jr. sold 30,432 shares at an average price of $31.03 on Nov. 21, generating $944,304.96 and reducing his stake by 2.11% to 1,414,636 shares (valued about $43.9M).
- First Interstate paid a $0.47 quarterly dividend (paid Nov. 20), equal to a $1.88 annualized payout and a 5.7% yield
- The company beat Q3 EPS estimates ($0.69 vs. $0.59) but missed revenue expectations ($204.7M vs. $254.7M); analysts' consensus rating is "Hold" with a mean target price of $35.57.
First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) Director John Heyneman, Jr. sold 30,432 shares of the company's stock in a transaction on Friday, November 21st. The shares were sold at an average price of $31.03, for a total transaction of $944,304.96. Following the completion of the sale, the director directly owned 1,414,636 shares of the company's stock, valued at $43,896,155.08. This trade represents a 2.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
First Interstate BancSystem Price Performance
Shares of NASDAQ:FIBK opened at $33.13 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.41 billion, a PE ratio of 13.98 and a beta of 0.83. The company's fifty day moving average is $31.75 and its 200 day moving average is $30.27. First Interstate BancSystem, Inc. has a 52 week low of $22.95 and a 52 week high of $36.77.
First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $254.71 million. First Interstate BancSystem had a return on equity of 7.30% and a net margin of 16.04%.During the same period last year, the firm earned $0.54 earnings per share. Research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Monday, November 10th. First Interstate BancSystem's dividend payout ratio (DPR) is currently 79.32%.
Analysts Set New Price Targets
A number of equities analysts recently commented on FIBK shares. Wall Street Zen upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Saturday, November 8th. Barclays boosted their price objective on shares of First Interstate BancSystem from $34.00 to $36.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 11th. UBS Group raised their target price on shares of First Interstate BancSystem from $33.00 to $34.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 5th. Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an "underweight" rating in a research note on Monday, September 29th. Finally, DA Davidson boosted their price target on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $35.57.
View Our Latest Stock Report on FIBK
Institutional Investors Weigh In On First Interstate BancSystem
Institutional investors and hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. raised its holdings in First Interstate BancSystem by 0.4% in the 3rd quarter. Alliancebernstein L.P. now owns 108,600 shares of the financial services provider's stock worth $3,461,000 after acquiring an additional 397 shares during the last quarter. Quarry LP raised its position in First Interstate BancSystem by 63.8% in the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider's stock worth $33,000 after buying an additional 450 shares during the last quarter. Deutsche Bank AG raised its position in First Interstate BancSystem by 0.7% in the 1st quarter. Deutsche Bank AG now owns 70,065 shares of the financial services provider's stock worth $2,007,000 after buying an additional 455 shares during the last quarter. Altus Wealth Group LLC lifted its stake in First Interstate BancSystem by 2.2% during the 2nd quarter. Altus Wealth Group LLC now owns 27,072 shares of the financial services provider's stock valued at $780,000 after acquiring an additional 585 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of First Interstate BancSystem by 186.5% during the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 647 shares during the last quarter. Institutional investors own 88.71% of the company's stock.
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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