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Susan Scott Heyneman Trust, a ten percent owner of First Interstate BancSystem (NASDAQ:FIBK), sold 10,000 shares of common stock on September 2, 2025, at a price of $32.28. The total value of the sale was $322,800. According to InvestingPro analysis, FIBK appears undervalued with its current market cap of $3.4 billion and an attractive dividend yield of 5.75%.
Following the transaction, the Susan Scott Heyneman Trust directly holds 519,256 shares of First Interstate BancSystem. The bank has demonstrated strong financial stability, maintaining dividend payments for 16 consecutive years and showing robust returns over the past three months.
The reporting persons may be deemed members of a group with the other signatories and may be deemed to share beneficial ownership of the securities reported herein. Each of the reporting persons disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein.
In other recent news, First Interstate BancSystem has made several strategic moves. The company authorized a $150 million stock repurchase program, allowing it to buy back its common stock through March 31, 2027. This buyback plan has received a positive response from Keefe, Bruyette & Woods, which reiterated an Outperform rating for First Interstate BancSystem, citing the new authorization as a key factor. Additionally, the company redeemed all of its outstanding 5.25% Fixed-to-Floating Rate Subordinated Notes due in 2030, completing the redemption at 100% of the principal amount plus accrued interest.
Further board developments include the appointment of Renu Agrawal as a Class III director, with her term set to expire at the 2027 annual meeting of shareholders. Ms. Agrawal brings extensive experience from her previous roles at Wells Fargo, ValleyCrest Companies, and McKinsey. The board also welcomed Michael L. Scudder as a Class I director, with his term extending to the 2028 annual meeting. Mr. Scudder’s background includes leadership roles at Old National Bancorp and First Midwest Bancorp. These appointments follow the board’s decision to increase its size, reflecting First Interstate BancSystem’s ongoing efforts to strengthen its governance and strategic direction.
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