FourThought Financial Partners LLC Makes New Investment in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

FourThought Financial Partners LLC purchased a new stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,464 shares of the financial services provider’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in First Interstate BancSystem in the third quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of First Interstate BancSystem during the 3rd quarter valued at $69,000. KBC Group NV lifted its holdings in shares of First Interstate BancSystem by 34.1% during the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 1,022 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in First Interstate BancSystem in the third quarter worth $273,000. Finally, Wrapmanager Inc. increased its stake in First Interstate BancSystem by 5.0% in the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $30.34 on Thursday. The company has a market capitalization of $3.17 billion, a P/E ratio of 13.85 and a beta of 0.85. 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 debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a 50 day moving average price of $32.32 and a two-hundred day moving average price of $31.84.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. Analysts expect 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 announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.20%. First Interstate BancSystem’s dividend payout ratio is currently 85.84%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FIBK. Wells Fargo & Company lifted their price target on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods boosted their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson reiterated a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a research report on Thursday, January 30th. UBS Group started coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price target on the stock. Finally, Stephens cut their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Three 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. Based on data from MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and an average price target of $36.14.

Insider Buying and Selling

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the sale, the director now owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.90% of the stock is owned by insiders.

First Interstate BancSystem Company 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.