Engineers Gate Manager LP reduced its position in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 27.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,722 shares of the financial services provider’s stock after selling 6,684 shares during the period. Engineers Gate Manager LP’s holdings in First Interstate Bancsystem were worth $710,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mutual of America Capital Management LLC boosted its holdings in shares of First Interstate Bancsystem by 1.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 180,609 shares of the financial services provider’s stock worth $6,908,000 after buying an additional 3,196 shares during the period. UBS Asset Management Americas Inc. bought a new stake in First Interstate Bancsystem in the 2nd quarter valued at $213,000. California State Teachers Retirement System boosted its holdings in First Interstate Bancsystem by 17.1% in the 2nd quarter. California State Teachers Retirement System now owns 45,492 shares of the financial services provider’s stock valued at $1,692,000 after purchasing an additional 6,652 shares during the period. GSA Capital Partners LLP boosted its holdings in First Interstate Bancsystem by 58.3% in the 3rd quarter. GSA Capital Partners LLP now owns 39,845 shares of the financial services provider’s stock valued at $1,524,000 after purchasing an additional 14,676 shares during the period. Finally, Teachers Advisors LLC boosted its holdings in First Interstate Bancsystem by 28.7% in the 2nd quarter. Teachers Advisors LLC now owns 57,704 shares of the financial services provider’s stock valued at $2,147,000 after purchasing an additional 12,864 shares during the period. 45.43% of the stock is owned by institutional investors and hedge funds.
First Interstate Bancsystem Inc (NASDAQ FIBK) opened at $39.90 on Tuesday. First Interstate Bancsystem Inc has a one year low of $33.33 and a one year high of $45.35. The stock has a market cap of $2,261.02, a price-to-earnings ratio of 17.34, a PEG ratio of 1.50 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.08.
First Interstate Bancsystem (NASDAQ:FIBK) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.08). First Interstate Bancsystem had a net margin of 19.90% and a return on equity of 9.37%. The business had revenue of $138.03 million during the quarter, compared to analyst estimates of $138.00 million. sell-side analysts forecast that First Interstate Bancsystem Inc will post 2.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, February 12th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.81%. This is a boost from First Interstate Bancsystem’s previous quarterly dividend of $0.24. First Interstate Bancsystem’s dividend payout ratio (DPR) is 54.63%.
A number of analysts have weighed in on the stock. Piper Jaffray Companies reissued a “buy” rating on shares of First Interstate Bancsystem in a report on Wednesday, January 31st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $45.00 price target on shares of First Interstate Bancsystem in a report on Friday, December 22nd. Barclays increased their price target on shares of First Interstate Bancsystem from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, Zacks Investment Research raised shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $44.75.
In related news, Director Ross E. Leckie sold 2,000 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $39.61, for a total transaction of $79,220.00. Following the completion of the sale, the director now owns 21,028 shares in the company, valued at approximately $832,919.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan R. Scott sold 25,000 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $37.76, for a total transaction of $944,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 53,925 shares of company stock valued at $2,081,713 in the last quarter. 38.22% of the stock is currently owned by corporate insiders.
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First Interstate Bancsystem Profile
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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