AlphaQuest LLC Sells 79,709 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

AlphaQuest LLC decreased its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 96.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,289 shares of the financial services provider’s stock after selling 79,709 shares during the quarter. AlphaQuest LLC’s holdings in First Interstate BancSystem were worth $107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in First Interstate BancSystem during the 3rd quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in First Interstate BancSystem during the 3rd quarter worth $69,000. KBC Group NV increased its position in First Interstate BancSystem by 34.1% during the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock worth $130,000 after buying an additional 1,022 shares during the period. FourThought Financial Partners LLC bought a new position in First Interstate BancSystem during the 4th quarter worth $242,000. Finally, Point72 Asset Management L.P. bought a new position in First Interstate BancSystem during the 3rd quarter worth $273,000. Institutional investors own 88.71% of the company’s stock.

Insider Activity

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the sale, the director now directly owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays increased their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company increased their target price on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. DA Davidson reissued a “buy” rating and set a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, UBS Group began coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, First Interstate BancSystem has a consensus rating of “Hold” and a consensus price target of $36.14.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK opened at $28.84 on Wednesday. The stock’s 50-day simple moving average is $31.35 and its 200 day simple moving average is $31.79. The firm has a market capitalization of $3.01 billion, a PE ratio of 13.17 and a beta of 0.84. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. On average, analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.52%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 85.84%.

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.