AlphaQuest LLC Sells 79,709 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

AlphaQuest LLC reduced its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 96.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,289 shares of the financial services provider's stock after selling 79,709 shares during the quarter. AlphaQuest LLC's holdings in First Interstate BancSystem were worth $107,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. LMR Partners LLP bought a new stake in First Interstate BancSystem during the third quarter valued at about $579,000. Wrapmanager Inc. grew its position in shares of First Interstate BancSystem by 5.0% during the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider's stock valued at $275,000 after purchasing an additional 429 shares in the last quarter. Jennison Associates LLC grew its position in shares of First Interstate BancSystem by 57.3% during the third quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider's stock valued at $27,176,000 after purchasing an additional 322,578 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of First Interstate BancSystem during the third quarter valued at about $528,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of First Interstate BancSystem by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider's stock valued at $32,945,000 after purchasing an additional 52,919 shares in the last quarter. 88.71% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several research analysts recently commented on FIBK shares. StockNews.com upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Wells Fargo & Company lifted their price target on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an "underweight" rating in a research report on Monday, February 3rd. Barclays lifted their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an "underweight" rating in a research report on Thursday, December 5th. UBS Group started coverage on First Interstate BancSystem in a research report on Tuesday, December 17th. They set a "neutral" rating and a $35.00 target price for the company. Finally, Stephens dropped their target price on First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $36.14.

Insider Activity

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the sale, the director now owns 1,414,886 shares of the company's stock, valued at approximately $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.90% of the company's stock.

First Interstate BancSystem Trading Up 0.2 %

Shares of NASDAQ:FIBK traded up $0.07 during trading hours on Friday, hitting $28.70. 2,539,232 shares of the company's stock traded hands, compared to its average volume of 598,176. First Interstate BancSystem, Inc. has a 1 year low of $24.16 and a 1 year high of $36.77. The business has a fifty day moving average price of $31.20 and a 200-day moving average price of $31.73. The firm has a market capitalization of $3.00 billion, a P/E ratio of 13.11 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. 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 business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.55%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem's dividend payout ratio is presently 85.84%.

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.