Edgestream Partners L.P. Sells 55,496 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Edgestream Partners L.P. decreased its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 47.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,132 shares of the financial services provider's stock after selling 55,496 shares during the quarter. Edgestream Partners L.P. owned 0.06% of First Interstate BancSystem worth $1,876,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FIBK. Price T Rowe Associates Inc. MD boosted its stake in shares of First Interstate BancSystem by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,919 shares of the financial services provider's stock valued at $1,413,000 after buying an additional 2,940 shares during the period. CWM LLC boosted its stake in shares of First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider's stock valued at $87,000 after buying an additional 430 shares during the period. SG Americas Securities LLC boosted its stake in shares of First Interstate BancSystem by 79.5% during the 2nd quarter. SG Americas Securities LLC now owns 18,021 shares of the financial services provider's stock valued at $500,000 after buying an additional 7,979 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of First Interstate BancSystem during the 2nd quarter valued at $241,000. Finally, Leeward Investments LLC MA boosted its stake in shares of First Interstate BancSystem by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 657,946 shares of the financial services provider's stock valued at $18,271,000 after buying an additional 34,817 shares during the period. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 22,050 shares of the stock in a transaction on 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 sale, the insider now owns 613,019 shares in the company, valued at $20,720,042.20. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the sale, the director now owns 958,710 shares of the company's stock, valued at approximately $32,768,707.80. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,837 shares of company stock worth $1,839,583 over the last ninety days. Company insiders own 6.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a "market perform" rating in a research note on Wednesday. Piper Sandler reduced their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. Stephens reaffirmed an "overweight" rating and issued a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th. StockNews.com raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Thursday, November 28th. Finally, DA Davidson raised shares of First Interstate BancSystem from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $32.00 to $42.00 in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, First Interstate BancSystem currently has an average rating of "Hold" and an average price target of $35.00.

First Interstate BancSystem Price Performance

NASDAQ:FIBK traded up $0.19 on Wednesday, reaching $34.50. The stock had a trading volume of 585,982 shares, compared to its average volume of 672,814. The company has a market capitalization of $3.61 billion, a P/E ratio of 15.04 and a beta of 0.84. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average price of $32.09 and a 200-day moving average price of $29.90.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter last year, the business earned $0.70 EPS. Research analysts forecast that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.47 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 5.45%. First Interstate BancSystem's dividend payout ratio is currently 82.46%.

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.