Wrapmanager Inc. Buys 429 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Wrapmanager Inc. grew its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,979 shares of the financial services provider’s stock after acquiring an additional 429 shares during the quarter. Wrapmanager Inc.’s holdings in First Interstate BancSystem were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CWM LLC lifted its position in shares of First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 430 shares in the last quarter. Innealta Capital LLC purchased a new stake in First Interstate BancSystem in the 2nd quarter valued at about $106,000. nVerses Capital LLC lifted its position in shares of First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after buying an additional 3,300 shares in the last quarter. Telos Capital Management Inc. purchased a new position in shares of First Interstate BancSystem in the 3rd quarter worth approximately $201,000. Finally, Washington Trust Bank bought a new position in shares of First Interstate BancSystem in the second quarter valued at approximately $204,000. Institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FIBK has been the topic of several research analyst reports. DA Davidson boosted their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Wells Fargo & Company downgraded shares of 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 report on Tuesday, October 1st. Keefe, Bruyette & Woods boosted their target price on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Barclays downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $32.00 to $30.00 in a research report on Thursday, October 31st. Finally, StockNews.com cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $32.50.

First Interstate BancSystem Stock Down 0.3 %

Shares of NASDAQ FIBK opened at $33.42 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a market cap of $3.49 billion, a P/E ratio of 14.66 and a beta of 0.81. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $34.53. The business has a 50-day simple moving average of $31.16 and a two-hundred day simple moving average of $29.36.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data 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 net margin of 15.94% and a return on equity of 7.48%. During the same quarter in the prior year, the business earned $0.70 earnings per share. Research analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.63%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 82.46%.

Insider Activity at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 22,050 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the transaction, the insider now directly owns 613,019 shares in the company, valued at approximately $20,720,042.20. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the sale, the director now owns 958,710 shares in the company, valued at $32,768,707.80. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,320 shares of company stock valued at $1,647,096. Company insiders own 6.90% of the company’s stock.

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.