First Trust Advisors LP lowered its position in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 52.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,186 shares of the financial services provider’s stock after selling 58,392 shares during the period. First Trust Advisors LP owned approximately 0.09% of First Interstate Bancsystem worth $2,090,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of First Interstate Bancsystem in the 3rd quarter worth approximately $105,000. Stifel Financial Corp purchased a new position in shares of First Interstate Bancsystem in the 3rd quarter worth approximately $200,000. Opus Capital Group LLC purchased a new position in shares of First Interstate Bancsystem in the 4th quarter worth approximately $223,000. Victory Capital Management Inc. grew its position in shares of First Interstate Bancsystem by 31.9% in the 3rd quarter. Victory Capital Management Inc. now owns 5,977 shares of the financial services provider’s stock worth $229,000 after buying an additional 1,446 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of First Interstate Bancsystem in the 3rd quarter worth approximately $238,000. 46.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) opened at $41.25 on Tuesday. The firm has a market cap of $2,349.86, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 1.56 and a beta of 1.12. First Interstate Bancsystem Inc has a 12-month low of $33.33 and a 12-month high of $42.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78.
First Interstate Bancsystem (NASDAQ:FIBK) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.08). The company had revenue of $138.03 million for the quarter, compared to analysts’ expectations of $138.00 million. First Interstate Bancsystem had a return on equity of 9.10% and a net margin of 20.50%. equities analysts expect that First Interstate Bancsystem Inc will post 2.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Monday, February 12th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Friday, February 9th. This is an increase from First Interstate Bancsystem’s previous quarterly dividend of $0.24. First Interstate Bancsystem’s payout ratio is currently 54.63%.
In other First Interstate Bancsystem news, Director James R. Scott, Jr. sold 6,100 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $40.07, for a total transaction of $244,427.00. Following the sale, the director now owns 23,412 shares of the company’s stock, valued at approximately $938,118.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin P. Riley bought 800 shares of the company’s stock in a transaction on Monday, February 5th. The shares were bought at an average cost of $41.34 per share, for a total transaction of $33,072.00. Following the transaction, the chief executive officer now owns 28,349 shares in the company, valued at approximately $1,171,947.66. The disclosure for this purchase can be found here. In the last three months, insiders have sold 269,050 shares of company stock worth $10,643,897. 38.22% of the stock is owned by insiders.
A number of brokerages have recently issued reports on FIBK. Zacks Investment Research downgraded shares of First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of First Interstate Bancsystem in a research report on Wednesday, January 31st. Barclays lifted their price objective on shares of First Interstate Bancsystem from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $45.00 price objective on shares of First Interstate Bancsystem in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $44.75.
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About First Interstate Bancsystem
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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