Capital Fund Management S.A. lessened its holdings in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 35.0% during the fourth quarter, HoldingsChannel reports. The firm owned 19,900 shares of the financial services provider’s stock after selling 10,700 shares during the quarter. Capital Fund Management S.A.’s holdings in First Interstate Bancsystem were worth $797,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of First Interstate Bancsystem during the 3rd quarter worth approximately $105,000. Stifel Financial Corp acquired a new stake in shares of First Interstate Bancsystem during the 3rd quarter worth approximately $200,000. UBS Asset Management Americas Inc. acquired a new stake in shares of First Interstate Bancsystem during the 2nd quarter worth approximately $213,000. Opus Capital Group LLC acquired a new stake in shares of First Interstate Bancsystem during the 4th quarter worth approximately $223,000. Finally, Victory Capital Management Inc. boosted its position in shares of First Interstate Bancsystem by 31.9% during the 3rd quarter. Victory Capital Management Inc. now owns 5,977 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 1,446 shares in the last quarter. Hedge funds and other institutional investors own 45.90% of the company’s stock.
In other First Interstate Bancsystem news, major shareholder Homer A. Scott, Jr. sold 9,400 shares of the firm’s stock in a transaction that occurred on Saturday, December 2nd. The shares were sold at an average price of $38.38, for a total value of $360,772.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kevin Guenthner sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.06, for a total transaction of $40,060.00. Following the completion of the sale, the senior vice president now owns 13,989 shares in the company, valued at approximately $560,399.34. The disclosure for this sale can be found here. Insiders sold 34,803 shares of company stock worth $1,375,007 in the last 90 days. Company insiders own 38.22% of the company’s stock.
Shares of First Interstate Bancsystem Inc (FIBK) opened at $41.05 on Thursday. First Interstate Bancsystem Inc has a 52-week low of $33.33 and a 52-week high of $45.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $2,280.78, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11.
First Interstate Bancsystem (NASDAQ:FIBK) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share 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 company had revenue of $138.03 million during the quarter, compared to analyst estimates of $138.00 million. equities research analysts expect that First Interstate Bancsystem Inc will post 2.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, February 12th will be given a $0.28 dividend. The ex-dividend date is Friday, February 9th. This represents a $1.12 dividend on an annualized basis and a yield of 2.73%. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.24. First Interstate Bancsystem’s dividend payout ratio (DPR) is currently 54.63%.
Several research firms recently issued reports on FIBK. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $45.00 price target on shares of First Interstate Bancsystem in a research 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 stock an “overweight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Wednesday, November 1st. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of First Interstate Bancsystem in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $44.75.
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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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