Cwm LLC Acquires 702 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Cwm LLC grew its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 42.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,368 shares of the financial services provider’s stock after purchasing an additional 702 shares during the quarter. Cwm LLC’s holdings in First Interstate BancSystem were worth $73,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC raised its holdings in shares of First Interstate BancSystem by 132.8% in the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 530 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at about $81,000. Signaturefd LLC lifted its position in shares of First Interstate BancSystem by 22.0% in 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 period. Nisa Investment Advisors LLC boosted its stake in shares of First Interstate BancSystem by 99.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,870 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 2,430 shares in the last quarter. Finally, Telos Capital Management Inc. purchased a new position in First Interstate BancSystem during the fourth quarter valued at approximately $205,000. 88.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Interstate BancSystem

In other news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the transaction, the insider now owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the completion of the transaction, the executive vice president now owns 20,599 shares in the company, valued at approximately $551,229.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the transaction, the insider now owns 6,909 shares in the company, valued at approximately $179,979.45. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. TheStreet cut First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Stephens reiterated an “overweight” rating and issued a $32.00 target price on shares of First Interstate BancSystem in a research note on Thursday, April 25th. Barclays increased 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, April 26th. Keefe, Bruyette & Woods boosted their price objective on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Piper Sandler lifted their price target on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.20.

First Interstate BancSystem Trading Up 0.8 %

NASDAQ:FIBK opened at $27.86 on Thursday. The company has a market capitalization of $2.90 billion, a P/E ratio of 11.10 and a beta of 0.85. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89. First Interstate BancSystem, Inc. has a 12 month low of $20.81 and a 12 month high of $32.54. The firm has a fifty day simple moving average of $26.28 and a 200-day simple moving average of $26.91.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Friday, May 3rd. First Interstate BancSystem’s payout ratio is 74.90%.

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.