WBI Investments LLC Sells 2,787 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

WBI Investments LLC lowered its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 20.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,153 shares of the financial services provider’s stock after selling 2,787 shares during the period. WBI Investments LLC’s holdings in First Interstate BancSystem were worth $303,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in FIBK. Global Retirement Partners LLC boosted its stake in shares of First Interstate BancSystem by 132.8% during the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 530 shares during the period. Wolverine Asset Management LLC purchased a new stake in First Interstate BancSystem during the 4th quarter valued at $39,000. Parallel Advisors LLC grew its holdings in First Interstate BancSystem by 205.3% in the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 856 shares during the last quarter. CWM LLC increased its position in shares of First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 702 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of First Interstate BancSystem by 28.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 744 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 2.7 %

First Interstate BancSystem stock traded up $0.78 on Thursday, hitting $29.39. 418,681 shares of the stock traded hands, compared to its average volume of 731,377. The business’s fifty day simple moving average is $26.94 and its 200 day simple moving average is $27.12. The firm has a market cap of $3.07 billion, a P/E ratio of 11.40 and a beta of 0.82. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.90. First Interstate BancSystem, Inc. has a 1 year low of $20.81 and a 1 year high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. First Interstate BancSystem had a net margin of 17.76% and a return on equity of 8.51%. The company had revenue of $242.20 million during the quarter, compared to analysts’ expectations of $236.80 million. As a group, sell-side analysts forecast that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.40%. The ex-dividend date was Friday, May 3rd. First Interstate BancSystem’s dividend payout ratio (DPR) is 74.90%.

Insider Buying and Selling at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 209,831 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total value of $5,306,625.99. Following the completion of the transaction, the insider now directly owns 879,869 shares in the company, valued at approximately $22,251,887.01. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Julie A. Scott sold 209,831 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total transaction of $5,306,625.99. Following the sale, the insider now directly owns 879,869 shares of the company’s stock, valued at $22,251,887.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan R. Scott sold 29,499 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $746,029.71. Following the completion of the transaction, the director now directly owns 1,021,663 shares of the company’s stock, valued at approximately $25,837,857.27. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FIBK shares. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Monday, June 24th. Wells Fargo & Company upped their target price on First Interstate BancSystem from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $29.00 price target on shares of First Interstate BancSystem in a report on Monday, June 17th. Barclays upped their price objective on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, Piper Sandler lifted their target price on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Interstate BancSystem presently has an average rating of “Hold” and a consensus price target of $30.40.

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.