Leeward Investments LLC MA Acquires 79,274 Shares of First Interstate BancSystem, Inc. $FIBK

Leeward Investments LLC MA grew its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 13.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 666,886 shares of the financial services provider’s stock after purchasing an additional 79,274 shares during the quarter. First Interstate BancSystem makes up 1.0% of Leeward Investments LLC MA’s portfolio, making the stock its 24th biggest position. Leeward Investments LLC MA’s holdings in First Interstate BancSystem were worth $19,220,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of First Interstate BancSystem by 186.5% during the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 647 shares during the last quarter. JNBA Financial Advisors purchased a new stake in shares of First Interstate BancSystem during the 1st quarter worth $29,000. Quarry LP lifted its stake in shares of First Interstate BancSystem by 63.8% during the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 450 shares during the last quarter. KBC Group NV lifted its stake in shares of First Interstate BancSystem by 26.4% during the 1st quarter. KBC Group NV now owns 5,079 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of First Interstate BancSystem during the 2nd quarter worth $186,000. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FIBK has been the subject of a number of analyst reports. Barclays upped their price objective on First Interstate BancSystem from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Wells Fargo & Company upped their target price on First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Wall Street Zen lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Monday, August 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Saturday. Finally, DA Davidson upped their target price on First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.43.

First Interstate BancSystem Stock Up 1.2%

Shares of FIBK stock opened at $31.63 on Friday. The stock’s 50-day simple moving average is $31.90 and its 200-day simple moving average is $29.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.74 and a current ratio of 0.75. The firm has a market capitalization of $3.32 billion, a PE ratio of 14.25 and a beta of 0.79. First Interstate BancSystem, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. The business had revenue of $248.30 million for the quarter, compared to analyst estimates of $253.73 million. First Interstate BancSystem had a return on equity of 6.82% and a net margin of 16.04%.The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 earnings per share. Equities analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.9%. First Interstate BancSystem’s dividend payout ratio is currently 84.68%.

Insider Buying and Selling

In related news, major shareholder Jonathan R. Scott sold 5,600 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $32.01, for a total transaction of $179,256.00. Following the sale, the insider directly owned 953,509 shares of the company’s stock, valued at $30,521,823.09. This trade represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John M. Heyneman, Jr. sold 11,818 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $30.18, for a total value of $356,667.24. Following the sale, the director directly owned 5,224 shares in the company, valued at approximately $157,660.32. This trade represents a 69.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,818 shares of company stock valued at $2,845,925 over the last ninety days. Company insiders own 8.20% of the company’s stock.

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.