First Interstate BancSystem, Inc. $FIBK Shares Acquired by Altus Wealth Group LLC

Altus Wealth Group LLC grew its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,072 shares of the financial services provider’s stock after buying an additional 585 shares during the period. Altus Wealth Group LLC’s holdings in First Interstate BancSystem were worth $780,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Quarry LP boosted its holdings in shares of 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 in the last quarter. Deutsche Bank AG boosted its holdings in shares of 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 in the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 in the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of 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 in the last quarter. Finally, JNBA Financial Advisors acquired a new position in shares of First Interstate BancSystem in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 2.0%

Shares of First Interstate BancSystem stock opened at $29.90 on Monday. The company has a market cap of $3.14 billion, a P/E ratio of 13.47 and a beta of 0.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.74 and a current ratio of 0.75. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $36.77. The firm has a fifty day moving average of $31.77 and a two-hundred day moving average of $29.22.

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

First Interstate BancSystem Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Monday, August 11th. This represents a $1.88 dividend on an annualized basis and a yield of 6.3%. First Interstate BancSystem’s dividend payout ratio is presently 84.68%.

Wall Street Analysts Forecast Growth

FIBK has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Interstate BancSystem in a research note on Wednesday, October 8th. DA Davidson increased their price target on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a “hold” rating to a “moderate buy” rating and set a $32.00 price target for the company in a research note on Monday, June 23rd. Wall Street Zen cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company increased their price target on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.43.

Insiders Place Their Bets

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 13,715 shares of the company’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $32.09, for a total transaction of $440,114.35. Following the completion of the transaction, the insider owned 959,109 shares in the company, valued at approximately $30,777,807.81. This represents a 1.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $27.86, for a total transaction of $1,532,300.00. Following the transaction, the insider owned 529,256 shares of the company’s stock, valued at approximately $14,745,072.16. The trade was a 9.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,818 shares of company stock worth $2,845,925. 8.20% of the stock is 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.