Vestmark Advisory Solutions Inc. Invests $895,000 in First Interstate BancSystem, Inc. $FIBK

Vestmark Advisory Solutions Inc. acquired a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the third quarter, HoldingsChannel reports. The institutional investor acquired 28,096 shares of the financial services provider’s stock, valued at approximately $895,000.

Several other large investors also recently bought and sold shares of FIBK. AQR Capital Management LLC raised its position in shares of First Interstate BancSystem by 37.2% during the 1st quarter. AQR Capital Management LLC now owns 67,214 shares of the financial services provider’s stock valued at $1,926,000 after buying an additional 18,210 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of First Interstate BancSystem by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,230 shares of the financial services provider’s stock worth $1,353,000 after purchasing an additional 2,070 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in First Interstate BancSystem in the 1st quarter worth about $238,000. Jones Financial Companies Lllp grew its stake in shares of First Interstate BancSystem by 24,352.5% during the first quarter. Jones Financial Companies Lllp now owns 24,697 shares of the financial services provider’s stock valued at $708,000 after buying an additional 24,596 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in First Interstate BancSystem in the first quarter worth $5,125,000. Institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FIBK shares. DA Davidson reaffirmed a “buy” rating and set a $42.00 target price on shares of First Interstate BancSystem in a research report on Thursday, January 29th. UBS Group reaffirmed a “neutral” rating and set a $38.00 target price on shares of First Interstate BancSystem in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods upped their price objective on First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Piper Sandler boosted their target price on shares of First Interstate BancSystem from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Finally, Wall Street Zen downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Sunday, February 15th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, First Interstate BancSystem has an average rating of “Hold” and a consensus target price of $38.17.

First Interstate BancSystem Trading Up 2.2%

First Interstate BancSystem stock opened at $36.34 on Thursday. First Interstate BancSystem, Inc. has a 12 month low of $22.95 and a 12 month high of $39.26. The company has a current ratio of 0.73, a quick ratio of 0.72 and a debt-to-equity ratio of 0.09. The stock’s 50 day simple moving average is $36.74 and its two-hundred day simple moving average is $33.74. The firm has a market cap of $3.74 billion, a PE ratio of 12.32 and a beta of 0.80.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.44. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 17.62%.The company had revenue of $205.10 million for the quarter, compared to the consensus estimate of $256.89 million. During the same quarter in the prior year, the business posted $0.50 earnings per share. First Interstate BancSystem’s revenue for the quarter was up 19.8% on a year-over-year basis. Analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Tuesday, February 10th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Tuesday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is 63.73%.

Insider Activity at First Interstate BancSystem

In other news, major shareholder Jonathan R. Scott sold 3,173 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $36.20, for a total value of $114,862.60. Following the completion of the sale, the insider owned 937,851 shares of the company’s stock, valued at $33,950,206.20. This represents a 0.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $32.75, for a total value of $327,500.00. Following the completion of the transaction, the insider owned 224,460 shares of the company’s stock, valued at $7,351,065. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 15,000 shares of company stock worth $509,815. Insiders own 8.20% of the company’s stock.

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.