AXQ Capital LP Buys Shares of 15,335 First Interstate BancSystem, Inc. $FIBK

AXQ Capital LP bought a new stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the fourth quarter, Holdings Channel.com reports. The fund bought 15,335 shares of the financial services provider’s stock, valued at approximately $531,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FIBK. AQR Capital Management LLC grew its holdings in First Interstate BancSystem by 37.2% in the 1st quarter. AQR Capital Management LLC now owns 67,214 shares of the financial services provider’s stock valued at $1,926,000 after buying an additional 18,210 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of First Interstate BancSystem by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,230 shares of the financial services provider’s stock worth $1,353,000 after purchasing an additional 2,070 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of First Interstate BancSystem during the 1st quarter worth approximately $238,000. Jones Financial Companies Lllp grew its holdings in shares of First Interstate BancSystem by 24,352.5% during the 1st quarter. Jones Financial Companies Lllp now owns 24,697 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 24,596 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of First Interstate BancSystem during the 1st quarter worth approximately $5,125,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $34.34 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $3.34 billion, a PE ratio of 11.19 and a beta of 0.76. First Interstate BancSystem, Inc. has a one year low of $25.81 and a one year high of $39.26. The business has a 50 day simple moving average of $34.58 and a 200 day simple moving average of $35.01.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $5.10 million during the quarter, compared to the consensus estimate of $242.78 million. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.During the same quarter last year, the company earned $0.49 EPS. On average, sell-side analysts forecast that First Interstate BancSystem, Inc. will post 2.66 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Monday, May 11th. First Interstate BancSystem’s dividend payout ratio (DPR) is 61.24%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FIBK shares. Wall Street Zen raised First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $37.00 price objective (down from $38.00) on shares of First Interstate BancSystem in a report on Friday, May 1st. Weiss Ratings raised First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. Stephens lowered First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 5th. Finally, Wells Fargo & Company lifted their price objective on First Interstate BancSystem from $30.00 to $36.00 and gave the stock an “underweight” rating in a report on Monday, March 30th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.00.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.