First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Strs Ohio

Strs Ohio reduced its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,900 shares of the financial services provider’s stock after selling 400 shares during the period. Strs Ohio’s holdings in First Interstate BancSystem were worth $611,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Caprock Group LLC lifted its position in shares of First Interstate BancSystem by 1.8% during the 4th quarter. Caprock Group LLC now owns 24,814 shares of the financial services provider’s stock worth $763,000 after purchasing an additional 443 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of First Interstate BancSystem by 132.8% during the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the last quarter. Signaturefd LLC lifted its position in shares of First Interstate BancSystem by 22.0% during the 3rd quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 700 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of First Interstate BancSystem by 5.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 15,268 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 853 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of First Interstate BancSystem by 4.9% during the 3rd quarter. Raymond James & Associates now owns 18,532 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 871 shares during the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Price Performance

Shares of NASDAQ:FIBK opened at $27.00 on Friday. The company has a 50-day simple moving average of $26.10 and a 200-day simple moving average of $26.68. First Interstate BancSystem, Inc. has a one year low of $20.81 and a one year high of $32.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.77. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 10.76 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. The business had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. On average, analysts predict that First Interstate BancSystem, Inc. will post 2.17 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.96%. First Interstate BancSystem’s dividend payout ratio (DPR) is 74.90%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Stephens reissued an “overweight” rating and issued a $32.00 price target on shares of First Interstate BancSystem in a research report on Thursday. Wells Fargo & Company boosted their price target on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. TheStreet cut shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Keefe, Bruyette & Woods boosted their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Barclays boosted their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.20.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total value of $77,604.00. Following the sale, the executive vice president now owns 20,599 shares of the company’s stock, valued at $551,229.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now owns 20,599 shares of the company’s stock, valued at $551,229.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristina Robbins sold 2,710 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the transaction, the executive vice president now directly owns 9,047 shares in the company, valued at approximately $233,684.01. The disclosure for this sale can be found here. Insiders have sold 7,531 shares of company stock valued at $197,645 over the last quarter. Corporate insiders own 6.90% of the company’s stock.

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.