Signaturefd LLC Buys 2,322 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Signaturefd LLC lifted its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 59.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,208 shares of the financial services provider’s stock after acquiring an additional 2,322 shares during the period. Signaturefd LLC’s holdings in First Interstate BancSystem were worth $191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FIBK. Global Retirement Partners LLC boosted its stake in First Interstate BancSystem by 132.8% in the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the period. Headlands Technologies LLC acquired a new position in shares of First Interstate BancSystem during the third quarter worth about $81,000. Nisa Investment Advisors LLC grew its holdings in shares of First Interstate BancSystem by 99.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,870 shares of the financial services provider’s stock worth $150,000 after buying an additional 2,430 shares in the last quarter. Telos Capital Management Inc. bought a new position in shares of First Interstate BancSystem during the fourth quarter worth about $205,000. Finally, Covestor Ltd raised its position in First Interstate BancSystem by 266.4% in the 3rd quarter. Covestor Ltd now owns 8,775 shares of the financial services provider’s stock valued at $219,000 after buying an additional 6,380 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total value of $77,604.00. Following the transaction, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the completion of the sale, the executive vice president now directly owns 20,599 shares in the company, valued at approximately $551,229.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the transaction, the insider now owns 6,909 shares in the company, valued at approximately $179,979.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,531 shares of company stock worth $197,645. 6.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FIBK. Keefe, Bruyette & Woods raised their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday. Stephens reissued an “overweight” rating and set a $32.00 price target on shares of First Interstate BancSystem in a research report on Thursday. Wells Fargo & Company raised their price objective on First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Barclays increased their price target on First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, TheStreet lowered First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.20.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $27.00 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average price is $26.10 and its two-hundred day moving average price is $26.70. The company has a market cap of $2.81 billion, a PE ratio of 10.76 and a beta of 0.87. First Interstate BancSystem, Inc. has a twelve month low of $20.81 and a twelve month high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. The business had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. On average, analysts predict that First Interstate BancSystem, Inc. will post 2.17 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date of this dividend is Friday, May 3rd. First Interstate BancSystem’s dividend payout ratio is presently 74.90%.

First Interstate BancSystem Company 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.