Davidson Investment Advisors Grows Stock Holdings in First Interstate BancSystem, Inc. $FIBK

Davidson Investment Advisors raised its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 407,082 shares of the financial services provider’s stock after acquiring an additional 4,698 shares during the period. Davidson Investment Advisors owned approximately 0.39% of First Interstate BancSystem worth $11,732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Quarry LP boosted its position in First Interstate BancSystem by 63.8% in the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock valued at $33,000 after buying an additional 450 shares during the period. Deutsche Bank AG boosted its position in First Interstate BancSystem by 0.7% in the 1st quarter. Deutsche Bank AG now owns 70,065 shares of the financial services provider’s stock valued at $2,007,000 after buying an additional 455 shares during the period. GAMMA Investing LLC boosted its position in First Interstate BancSystem by 186.5% in the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock valued at $29,000 after buying an additional 647 shares during the period. Evergreen Capital Management LLC boosted its position in First Interstate BancSystem by 4.0% in the 1st quarter. Evergreen Capital Management LLC now owns 25,571 shares of the financial services provider’s stock valued at $733,000 after buying an additional 991 shares during the period. Finally, JNBA Financial Advisors purchased a new stake in First Interstate BancSystem in the 1st quarter valued at about $29,000. Institutional investors own 88.71% of the company’s stock.

Analyst Ratings Changes

FIBK has been the subject of several research reports. Keefe, Bruyette & Woods raised shares of First Interstate BancSystem from a “hold” rating to a “moderate buy” rating and set a $32.00 price objective for the company in a research report on Monday, June 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Wednesday, October 8th. Wall Street Zen cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Monday, August 11th. Wells Fargo & Company increased their target price 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. Finally, DA Davidson increased their target price on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.43.

First Interstate BancSystem Stock Down 2.4%

Shares of First Interstate BancSystem stock opened at $31.53 on Thursday. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 14.20 and a beta of 0.79. The firm’s 50-day moving average is $31.75 and its two-hundred day moving average is $29.18. First Interstate BancSystem, Inc. has a 1 year low of $22.95 and a 1 year high of $36.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.74.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.57 by $0.12. The business had revenue of $248.30 million during the quarter, compared to analyst estimates of $253.73 million. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 6.82%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. As a group, research analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Monday, August 11th. First Interstate BancSystem’s dividend payout ratio is presently 84.68%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 11,818 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $30.18, for a total transaction of $356,667.24. Following the completion of the sale, the director directly owned 5,224 shares of the company’s stock, valued at approximately $157,660.32. This represents a 69.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jonathan R. Scott sold 5,600 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $32.01, for a total transaction of $179,256.00. Following the sale, the insider directly owned 953,509 shares of the company’s stock, valued at approximately $30,521,823.09. The trade was a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,818 shares of company stock valued at $2,845,925. 8.20% of the stock is currently owned by insiders.

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.