Bahl & Gaynor Inc. Decreases Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Bahl & Gaynor Inc. reduced its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 697,916 shares of the financial services provider’s stock after selling 7,070 shares during the period. Bahl & Gaynor Inc. owned about 0.66% of First Interstate BancSystem worth $21,461,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC lifted its position in First Interstate BancSystem by 132.8% in the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 530 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in First Interstate BancSystem in the fourth quarter valued at $39,000. CWM LLC lifted its position in First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 702 shares during the last quarter. Headlands Technologies LLC purchased a new stake in First Interstate BancSystem in the third quarter valued at $81,000. Finally, Signaturefd LLC lifted its position in First Interstate BancSystem by 22.0% in the third quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 700 shares during the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the transaction, the executive vice president now directly owns 9,047 shares in the company, valued at $233,684.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now directly owns 20,599 shares in the company, valued at $551,229.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kristina Robbins sold 2,710 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total transaction of $69,999.30. Following the transaction, the executive vice president now owns 9,047 shares in the company, valued at $233,684.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,531 shares of company stock worth $197,645. 6.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. TheStreet cut shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Keefe, Bruyette & Woods upped their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Friday. Wells Fargo & Company upped their target price on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Barclays upped their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Stephens reaffirmed an “overweight” rating and issued a $32.00 target price on shares of First Interstate BancSystem in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and an average target price of $29.20.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock traded up $0.05 on Friday, reaching $27.00. 511,803 shares of the stock were exchanged, compared to its average volume of 830,670. First Interstate BancSystem, Inc. has a 1-year low of $20.81 and a 1-year high of $32.54. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89. The business has a fifty day moving average price of $26.10 and a two-hundred day moving average price of $26.68. The firm has a market capitalization of $2.81 billion, a PE ratio of 10.76 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. The business had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. As a group, research analysts anticipate that First Interstate BancSystem, Inc. will post 2.17 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.88 annualized dividend and a yield of 6.96%. First Interstate BancSystem’s payout ratio is currently 74.90%.

First Interstate BancSystem Profile

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.