Advantage Alpha Capital Partners LP Increases Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Advantage Alpha Capital Partners LP boosted its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 41.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,072 shares of the financial services provider’s stock after purchasing an additional 4,684 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in First Interstate BancSystem were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of First Interstate BancSystem by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,919 shares of the financial services provider’s stock valued at $1,413,000 after buying an additional 2,940 shares during the period. Bayesian Capital Management LP purchased a new position in First Interstate BancSystem during the first quarter valued at approximately $286,000. CWM LLC raised its stake in First Interstate BancSystem by 16.0% in the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after buying an additional 430 shares in the last quarter. SG Americas Securities LLC lifted its holdings in First Interstate BancSystem by 79.5% during the second quarter. SG Americas Securities LLC now owns 18,021 shares of the financial services provider’s stock worth $500,000 after buying an additional 7,979 shares during the period. Finally, SteelPeak Wealth LLC bought a new stake in First Interstate BancSystem during the 2nd quarter valued at $241,000. 88.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the sale, the director now directly owns 958,710 shares in the company, valued at $32,768,707.80. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,837 shares of company stock valued at $1,839,583. 6.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FIBK shares. Wells Fargo & Company cut First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. DA Davidson upgraded shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and raised their price target for the company from $32.00 to $42.00 in a report on Tuesday. Piper Sandler reduced their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Barclays downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $32.00 to $30.00 in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus target price of $33.83.

First Interstate BancSystem Trading Down 0.2 %

NASDAQ FIBK opened at $35.41 on Wednesday. The stock has a market cap of $3.70 billion, a P/E ratio of 15.53 and a beta of 0.81. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 12-month low of $24.16 and a 12-month high of $36.77. The company has a fifty day simple moving average of $31.70 and a two-hundred day simple moving average of $29.64.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same period last year, the firm posted $0.70 EPS. On average, analysts forecast that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.47 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 5.31%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 82.46%.

About First Interstate BancSystem

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.