Versor Investments LP Makes New Investment in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Versor Investments LP bought a new stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,800 shares of the financial services provider’s stock, valued at approximately $914,000.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of First Interstate BancSystem by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock valued at $127,204,000 after purchasing an additional 367,212 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in First Interstate BancSystem by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider’s stock valued at $56,974,000 after acquiring an additional 32,348 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of First Interstate BancSystem by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 887,559 shares of the financial services provider’s stock valued at $24,648,000 after acquiring an additional 11,493 shares during the period. Leeward Investments LLC MA lifted its holdings in shares of First Interstate BancSystem by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 657,946 shares of the financial services provider’s stock worth $18,271,000 after acquiring an additional 34,817 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of First Interstate BancSystem by 5.8% during the 1st quarter. Sei Investments Co. now owns 448,158 shares of the financial services provider’s stock worth $12,194,000 after purchasing an additional 24,552 shares during the period. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock opened at $33.74 on Wednesday. First Interstate BancSystem, Inc. has a 12 month low of $22.89 and a 12 month high of $34.53. The stock’s fifty day moving average price is $30.81 and its 200-day moving average price is $29.14. The firm has a market cap of $3.53 billion, a P/E ratio of 14.80 and a beta of 0.81. The company has a current ratio of 0.78, a quick ratio of 0.79 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate 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 posted $0.70 earnings per share. On average, equities research analysts expect that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.57%. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 20,220 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the transaction, the insider now directly owns 635,069 shares of the company’s stock, valued at approximately $20,817,561.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $32.78, for a total value of $662,811.60. Following the transaction, the insider now owns 635,069 shares in the company, valued at $20,817,561.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Julie A. Scott sold 22,050 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the transaction, the insider now owns 613,019 shares of the company’s stock, valued at $20,720,042.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,820 shares of company stock valued at $1,424,926. 6.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on FIBK. Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $30.00 to $28.00 in a research report on Tuesday, October 1st. Keefe, Bruyette & Woods raised their price target on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Piper Sandler cut their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Stephens reiterated an “overweight” rating and set a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Finally, Barclays cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $32.00 to $30.00 in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.50.

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.