Trump announces 100% chip tariff as Apple ups U.S. investment
John Heyneman Jr., a director and significant shareholder at First Interstate BancSystem Inc. (NASDAQ:FIBK), recently sold 250 shares of the company’s common stock. The transaction, which took place on February 26, 2025, was executed at a price of $30.52 per share, amounting to a total transaction value of $7,630. The regional bank, currently valued at $3.19 billion, trades below its InvestingPro Fair Value, with analysts setting price targets ranging from $30 to $42.
Following this sale, Heyneman’s indirect ownership stands at 1,414,636 shares. The shares were sold as part of a broader arrangement involving multiple trusts and investment partnerships, as detailed in the footnotes of the filing. These trusts include the John M Heyneman Jr. Trust, Riki Rae Scott Davidson & John Heyneman Jr., Trustees FBO Riki Scott Davidson Exemption Trust Under the Scott Family 1996 Trust, and others, reflecting the complex nature of the ownership structure.
The filing also notes that Heyneman, along with other reporting persons, may be considered part of a group that shares beneficial ownership of the securities. However, each party disclaims beneficial ownership except to the extent of their pecuniary interest. This transaction and the ownership structure highlight the nuanced nature of stock ownership among significant shareholders and insiders at First Interstate BancSystem. For deeper insights into insider trading patterns and comprehensive analysis, explore the full research report available on InvestingPro.
In other recent news, First Interstate BancSystem reported its fourth-quarter 2024 earnings, revealing a net income of $52.1 million, which translates to an earnings per share (EPS) of $0.50, falling short of the forecasted $0.58. However, the company exceeded revenue expectations, achieving $261.3 million against a projection of $251.24 million. The firm declared a dividend of $0.47 per share, yielding 5.8%. Additionally, First Interstate BancSystem announced a strategic CFO transition plan, with Deputy CFO David P. Della Camera set to succeed Marcy D. Mutch as CFO in June 2025. Mutch will retire from her role as CFO but remain an executive advisor until the end of 2025 and continue as a consultant through 2026. Analysts have noted the company’s focus on relationship banking and digital enhancements, with Piper Sandler participating in the earnings call. The company anticipates modest loan growth and low single-digit deposit growth in 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.