Davidson Investment Advisors Boosts Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Davidson Investment Advisors raised its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBKFree Report) by 15.4% in the 3rd quarter, Holdings Channel reports. The fund owned 443,274 shares of the financial services provider’s stock after acquiring an additional 59,068 shares during the quarter. Davidson Investment Advisors’ holdings in First Interstate BancSystem were worth $11,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Inspire Investing LLC raised its stake in shares of First Interstate BancSystem by 43.2% during the 2nd quarter. Inspire Investing LLC now owns 13,071 shares of the financial services provider’s stock worth $312,000 after buying an additional 3,943 shares in the last quarter. Comerica Bank acquired a new stake in shares of First Interstate BancSystem in the 2nd quarter worth approximately $54,700,000. Leeward Investments LLC MA grew its holdings in shares of First Interstate BancSystem by 19.6% in the 3rd quarter. Leeward Investments LLC MA now owns 654,409 shares of the financial services provider’s stock worth $16,321,000 after acquiring an additional 107,283 shares during the period. Stockman Wealth Management Inc. grew its holdings in shares of First Interstate BancSystem by 13.8% in the 2nd quarter. Stockman Wealth Management Inc. now owns 98,557 shares of the financial services provider’s stock worth $2,350,000 after acquiring an additional 11,960 shares during the period. Finally, Mesirow Institutional Investment Management Inc. acquired a new stake in shares of First Interstate BancSystem in the 3rd quarter worth approximately $10,857,000. 78.62% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK traded down $0.35 during mid-day trading on Thursday, hitting $25.42. 1,051,187 shares of the stock were exchanged, compared to its average volume of 758,644. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $2.67 billion, a P/E ratio of 10.27 and a beta of 0.89. The stock’s fifty day simple moving average is $29.25 and its two-hundred day simple moving average is $26.76. First Interstate BancSystem, Inc. has a twelve month low of $20.81 and a twelve month high of $37.35.

First Interstate BancSystem Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 19th. Stockholders of record on Friday, February 9th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.40%. This is a boost from First Interstate BancSystem’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, February 8th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 75.81%.

Wall Street Analysts Forecast Growth

FIBK has been the topic of a number of analyst reports. TheStreet upgraded First Interstate BancSystem from a “c” rating to a “b-” rating in a report on Wednesday, December 13th. Piper Sandler decreased their price target on First Interstate BancSystem from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and a consensus price target of $31.00.

Read Our Latest Stock Analysis on FIBK

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Homer Scott Jr Trust, Homer Sc sold 1,000,000 shares of First Interstate BancSystem stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $32.14, for a total value of $32,140,000.00. Following the sale, the insider now directly owns 950,753 shares in the company, valued at approximately $30,557,201.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $26.19, for a total value of $261,900.00. Following the completion of the sale, the insider now owns 1,159,700 shares of the company’s stock, valued at approximately $30,372,543. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Homer Scott Jr Trust, Homer Sc sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $32.14, for a total transaction of $32,140,000.00. Following the completion of the sale, the insider now directly owns 950,753 shares of the company’s stock, valued at approximately $30,557,201.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,020,000 shares of company stock valued at $32,686,100. 6.80% of the stock is owned by corporate insiders.

First Interstate BancSystem Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding FIBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Interstate BancSystem, Inc. (NASDAQ:FIBKFree Report).

Institutional Ownership by Quarter for First Interstate BancSystem (NASDAQ:FIBK)

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