First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 17.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 319,000 shares of the financial services provider’s stock after acquiring an additional 46,747 shares during the quarter. Fisher Asset Management LLC’s holdings in First Interstate BancSystem were worth $9,787,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of First Interstate BancSystem by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,919 shares of the financial services provider’s stock worth $1,413,000 after purchasing an additional 2,940 shares in the last quarter. Bayesian Capital Management LP acquired a new position in First Interstate BancSystem during the first quarter worth about $286,000. CWM LLC grew its stake in First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 430 shares in the last quarter. SG Americas Securities LLC raised its holdings in First Interstate BancSystem by 79.5% in the 2nd quarter. SG Americas Securities LLC now owns 18,021 shares of the financial services provider’s stock valued at $500,000 after acquiring an additional 7,979 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new position in shares of First Interstate BancSystem during the 2nd quarter worth approximately $241,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Insider Activity

In related news, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the transaction, the director now directly owns 958,710 shares in the company, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Julie A. Scott sold 22,050 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the sale, the insider now owns 613,019 shares in the company, valued at approximately $20,720,042.20. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,837 shares of company stock valued at $1,839,583. 6.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on FIBK shares. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $32.00 to $30.00 in a report on Thursday, October 31st. Wells Fargo & Company downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $30.00 to $28.00 in a report on Tuesday, October 1st. Stephens reiterated an “overweight” rating and issued a $36.00 price objective on shares of First Interstate BancSystem in a report on Thursday, October 10th. Finally, Piper Sandler cut their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and an average target price of $33.83.

First Interstate BancSystem Stock Down 0.2 %

First Interstate BancSystem stock opened at $35.35 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a 50 day moving average price of $31.79 and a 200 day moving average price of $29.68. First Interstate BancSystem, Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $36.77. The company has a market capitalization of $3.70 billion, a PE ratio of 15.50 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same period in the previous year, the company posted $0.70 earnings per share. Research analysts expect that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.32%. First Interstate BancSystem’s dividend payout ratio is presently 82.46%.

About First Interstate BancSystem

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.