25,727 Shares in First Interstate BancSystem, Inc. (NASDAQ:FIBK) Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC acquired a new stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,727 shares of the financial services provider’s stock, valued at approximately $789,000.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of First Interstate BancSystem by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock valued at $127,204,000 after purchasing an additional 367,212 shares during the period. Versor Investments LP acquired a new position in First Interstate BancSystem in the 3rd quarter valued at $914,000. Empower Advisory Group LLC lifted its stake in shares of First Interstate BancSystem by 4.8% in the 3rd quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock worth $14,318,000 after acquiring an additional 21,191 shares during the period. CWM LLC boosted its holdings in shares of First Interstate BancSystem by 16.0% in the second 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. Finally, Quest Partners LLC boosted its holdings in shares of First Interstate BancSystem by 1,115.4% in the third quarter. Quest Partners LLC now owns 82,998 shares of the financial services provider’s stock valued at $2,546,000 after acquiring an additional 76,169 shares in the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at First Interstate BancSystem

In related news, major shareholder James R. Scott, Jr. sold 6,067 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the sale, the insider now owns 75,387 shares in the company, valued at approximately $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Julie A. Scott sold 20,220 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the transaction, the insider now owns 635,069 shares of the company’s stock, valued at $20,817,561.82. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,837 shares of company stock worth $1,839,583. 6.90% of the stock is owned by insiders.

First Interstate BancSystem Trading Down 1.1 %

Shares of FIBK stock opened at $34.97 on Monday. The stock has a market cap of $3.66 billion, a P/E ratio of 15.34 and a beta of 0.81. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $36.77. The business has a fifty day simple moving average of $31.93 and a 200-day simple moving average of $29.80.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share 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 quarter in the previous year, the company earned $0.70 EPS. On average, analysts forecast that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem’s payout ratio is currently 82.46%.

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.