Villere ST Denis J & Co. LLC Raises Holdings in First Interstate BancSystem, Inc. $FIBK

Villere ST Denis J & Co. LLC lifted its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 15.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627,031 shares of the financial services provider’s stock after buying an additional 82,117 shares during the quarter. First Interstate BancSystem accounts for 2.3% of Villere ST Denis J & Co. LLC’s portfolio, making the stock its 27th biggest holding. Villere ST Denis J & Co. LLC’s holdings in First Interstate BancSystem were worth $20,943,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Eurizon Capital SGR S.p.A. purchased a new position in First Interstate BancSystem in the fourth quarter worth $25,000. Kestra Advisory Services LLC acquired a new stake in First Interstate BancSystem in the fourth quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its position in shares of First Interstate BancSystem by 139.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 862 shares in the last quarter. First Horizon Corp grew its stake in shares of First Interstate BancSystem by 56.0% during the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 455 shares during the period. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of First Interstate BancSystem during the 3rd quarter worth $52,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK traded down $0.06 during trading on Friday, reaching $38.85. The company had a trading volume of 629,557 shares, compared to its average volume of 993,464. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. First Interstate BancSystem, Inc. has a twelve month low of $27.60 and a twelve month high of $39.65. The stock has a 50-day moving average price of $36.45 and a two-hundred day moving average price of $35.78. The stock has a market capitalization of $3.77 billion, a PE ratio of 12.65 and a beta of 0.76.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $5.10 million for the quarter, compared to analyst estimates of $242.78 million. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.During the same quarter last year, the company earned $0.49 earnings per share. As a group, sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.66 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, May 11th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 61.24%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barclays raised their price objective on shares of First Interstate BancSystem from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday. DA Davidson lowered First Interstate BancSystem from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $41.00 to $39.00 in a research note on Wednesday, May 27th. Weiss Ratings upgraded First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. UBS Group lifted their price objective on First Interstate BancSystem from $30.00 to $33.00 and gave the stock a “sell” rating in a report on Friday, May 1st. Finally, Wall Street Zen raised First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Monday, June 22nd. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.33.

Insider Activity

In related news, major shareholder Jonathan R. Scott sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $36.29, for a total transaction of $163,305.00. Following the transaction, the insider owned 862,128 shares of the company’s stock, valued at approximately $31,286,625.12. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Julie A. Scott sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.97, for a total transaction of $539,550.00. Following the transaction, the insider directly owned 488,359 shares in the company, valued at $17,566,273.23. The trade was a 2.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,392 shares of company stock worth $1,161,552 over the last ninety days. 8.00% of the stock is owned by corporate insiders.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.