Wolverine Asset Management LLC Sells 4,648 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Wolverine Asset Management LLC trimmed its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 22.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,369 shares of the financial services provider’s stock after selling 4,648 shares during the quarter. Wolverine Asset Management LLC’s holdings in First Interstate BancSystem were worth $502,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. TNF LLC raised its holdings in shares of First Interstate BancSystem by 1.5% in the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock worth $812,000 after acquiring an additional 367 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of First Interstate BancSystem by 20.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,874 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 2,169 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of First Interstate BancSystem in the third quarter valued at approximately $311,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of First Interstate BancSystem by 5.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after buying an additional 507 shares during the last quarter. Finally, Altus Wealth Group LLC grew its holdings in First Interstate BancSystem by 21.4% during the third quarter. Altus Wealth Group LLC now owns 24,512 shares of the financial services provider’s stock worth $752,000 after buying an additional 4,316 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 22,050 shares of First Interstate BancSystem stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the transaction, the insider now owns 613,019 shares in the company, valued at $20,720,042.20. This trade represents 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. In related 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 transaction of $662,811.60. Following the sale, the insider now directly owns 635,069 shares in the company, valued at approximately $20,817,561.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Julie A. Scott sold 22,050 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the transaction, the insider now owns 613,019 shares of the company’s stock, valued at approximately $20,720,042.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,820 shares of company stock valued at $1,424,926 over the last three months. 6.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FIBK has been the topic of several recent analyst reports. DA Davidson raised their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $30.00 to $28.00 in a research report on Tuesday, October 1st. Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Stephens reaffirmed an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $32.50.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $33.51 on Thursday. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $34.53. The firm’s 50-day simple moving average is $30.87 and its two-hundred day simple moving average is $29.19. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 14.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data 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 period in the previous year, the company posted $0.70 earnings per share. As a group, equities 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 will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date is Monday, November 4th. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

About First Interstate BancSystem

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.