Key Points
- Susan Scott Heyneman Trust sold 10,000 FIBK shares on Dec. 1 at an average price of $32.75, cutting its holding by 4.27% to 224,460 shares (≈$7.35M).
- First Interstate reported quarterly EPS of $0.69, beating estimates by $0.10, while revenue missed at $204.7M versus analysts' $254.7M estimate.
- The company pays a quarterly dividend of $0.47 (annualized $1.88) for a yield of 5.7% and a dividend payout ratio of 79.32%.
First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $32.75, for a total value of $327,500.00. Following the transaction, the insider directly owned 224,460 shares in the company, valued at approximately $7,351,065. The trade was a 4.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Susan Scott Heyneman Trust, Su also recently made the following trade(s):
- On Monday, November 3rd, Susan Scott Heyneman Trust, Su sold 10,000 shares of First Interstate BancSystem stock. The shares were sold at an average price of $30.99, for a total value of $309,900.00.
- On Wednesday, October 1st, Susan Scott Heyneman Trust, Su sold 10,000 shares of First Interstate BancSystem stock. The stock was sold at an average price of $31.59, for a total transaction of $315,900.00.
First Interstate BancSystem Trading Up 0.6%
NASDAQ FIBK opened at $33.03 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.74 and a current ratio of 0.75. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 13.94 and a beta of 0.83. The firm has a 50 day simple moving average of $31.73 and a 200-day simple moving average of $30.41. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $35.25.
First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results on Wednesday, October 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 7.30%. The company had revenue of $204.70 million for the quarter, compared to analyst estimates of $254.71 million. During the same period in the prior year, the business earned $0.54 EPS. Equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.
First Interstate BancSystem Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were issued a $0.47 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.88 dividend on an annualized basis and a yield of 5.7%. First Interstate BancSystem's dividend payout ratio (DPR) is 79.32%.
Analyst Ratings Changes
Several research firms recently commented on FIBK. DA Davidson boosted their target price on First Interstate BancSystem from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Wall Street Zen downgraded First Interstate BancSystem from a "hold" rating to a "sell" rating in a research report on Friday. UBS Group raised their target price on shares of First Interstate BancSystem from $33.00 to $34.00 and gave the company a "neutral" rating in a report on Wednesday, November 5th. Weiss Ratings upgraded shares of First Interstate BancSystem from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, November 24th. Finally, Wells Fargo & Company boosted their price target on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the stock an "underweight" rating in a report on Monday, September 29th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $35.57.
View Our Latest Research Report on FIBK
Institutional Investors Weigh In On First Interstate BancSystem
Institutional investors have recently added to or reduced their stakes in the business. HoldCo Asset Management LP acquired a new position in First Interstate BancSystem in the second quarter valued at approximately $102,890,000. Azora Capital LP lifted its position in shares of First Interstate BancSystem by 1,538.7% during the 3rd quarter. Azora Capital LP now owns 1,275,693 shares of the financial services provider's stock worth $40,656,000 after buying an additional 1,197,843 shares during the last quarter. Nuveen LLC purchased a new stake in shares of First Interstate BancSystem during the 1st quarter worth approximately $32,796,000. UBS Group AG boosted its holdings in shares of First Interstate BancSystem by 140.5% in the 3rd quarter. UBS Group AG now owns 1,754,104 shares of the financial services provider's stock valued at $55,903,000 after buying an additional 1,024,683 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of First Interstate BancSystem in the 2nd quarter valued at $29,082,000. Hedge funds and other 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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