Rhumbline Advisers lessened its stake in First Interstate BancSystem, Inc. (NASDAQ: FIBK – Get Rating) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,576 shares of the financial services provider’s stock after selling 1,802 shares during the period. Rhumbline Advisers owned approximately 0.11% of First Interstate BancSystem worth $ 2,789,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. FourThought Financial LLC boosted its holdings in First Interstate BancSystem by 990.4% in the 3rd quarter. FourThought Financial LLC now owns 796 shares of the financial services provider’s stock worth $ 32,000 after buying an additional 723 shares during the period. Point72 Hong Kong Ltd bought a new position in First Interstate BancSystem in the 3rd quarter worth about $ 74,000. Trexquant Investment LP bought a new position in First Interstate BancSystem in the 3rd quarter worth about $ 276,000. Janney Montgomery Scott LLC bought a new position in shares of First Interstate BancSystem during the fourth quarter valued at approximately $ 280,000. Finally, Advisor Group Holdings Inc. boosted its stake in shares of First Interstate BancSystem by 6.5% during the third quarter. Advisor Group Holdings Inc. now owns 7,103 shares of the financial services provider’s stock valued at $ 286,000 after purchasing an additional 436 shares in the last quarter. 69.42% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Kevin P. Riley purchased 15,899 shares of the stock in a transaction on Wednesday, June 1st. The stock was bought at an average price of $ 37.33 per share, for a total transaction of $ 593,509.67. Following the acquisition, the chief executive officer now directly owns 92,555 shares of the company stock, valued at approximately $ 3,455,078.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip G. Gaglia sold 1,199 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $ 34.89, for a total transaction of $ 41,833.11. Following the transaction, the insider now owns 1,687 shares of the company stock, valued at approximately $ 58,859.43. The disclosure for this sale can be found here. Insiders have sold a total of 20,912 shares of company stock valued at $ 808,796 in the last quarter. 6.40% of the stock is currently owned by company insiders.
Shares of FIBK stock opened at $ 38.40 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.70 and a current ratio of 0.71. The stock has a market capitalization of $ 4.20 billion, a P / E ratio of 20.00 and a beta of 1.03. The company has a 50 day moving average price of $ 35.26 and a 200 day moving average price of $ 38.35. First Interstate BancSystem, Inc. has a fifty-two week low of $ 32.40 and a fifty-two week high of $ 47.11.
First Interstate BancSystem (NASDAQ: FIBK – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The financial services provider reported $ 0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $ 0.04 by $ 0.17. The firm had revenue of $ 227.20 million during the quarter, compared to analysts’ expectations of $ 224.49 million. First Interstate BancSystem had a net margin of 14.78% and a return on equity of 7.09%. During the same quarter in the previous year, the business posted $ 0.83 earnings per share. On average, research analysts forecast that First Interstate BancSystem, Inc. will post 2.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 20th. Shareholders of record on Monday, May 9th were issued a dividend of $ 0.41 per share. This represents a $ 1.64 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Friday, May 6th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 85.42%.
A number of research analysts have issued reports on the stock. TheStreet cut shares of First Interstate BancSystem from a “b” rating to a “c” rating in a report on Tuesday. Janney Montgomery Scott upgraded shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and set a $ 42.00 price target on the stock in a research report on Tuesday, May 3rd. Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating and set a $ 45.00 target price on the stock in a research report on Monday, May 2nd. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Zacks Investment Research downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $ 42.75.
About First Interstate BancSystem: (Get Rating)
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.
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