First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Fmr LLC

FMR LLC decreased its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 28.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,008,065 shares of the financial services provider's stock after selling 1,983,591 shares during the period. FMR LLC owned about 4.79% of First Interstate BancSystem worth $153,647,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. TNF LLC lifted its holdings in First Interstate BancSystem by 1.5% in the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider's stock valued at $812,000 after acquiring an additional 367 shares during the last quarter. Caprock Group LLC boosted its position in First Interstate BancSystem by 1.7% during the second quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider's stock worth $713,000 after purchasing an additional 422 shares during the period. Wrapmanager Inc. boosted its position in First Interstate BancSystem by 5.0% during the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider's stock worth $275,000 after purchasing an additional 429 shares during the period. CWM LLC boosted its position in First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider's stock worth $87,000 after purchasing an additional 430 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of First Interstate BancSystem by 5.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider's stock valued at $311,000 after acquiring an additional 507 shares during the period. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Trading Up 0.6 %

FIBK traded up $0.19 on Wednesday, hitting $34.50. The company had a trading volume of 585,982 shares, compared to its average volume of 672,814. The company has a market cap of $3.61 billion, a PE ratio of 15.13 and a beta of 0.84. First Interstate BancSystem, Inc. has a 12-month low of $24.16 and a 12-month 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 business's fifty day simple moving average is $32.19 and its 200 day simple moving average is $29.93.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 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 in the prior year, the company posted $0.70 earnings per share. Equities research analysts expect that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.45%. First Interstate BancSystem's dividend payout ratio (DPR) is presently 82.46%.

Insider Activity at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 20,220 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the sale, the insider now directly owns 635,069 shares in the company, valued at approximately $20,817,561.82. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the sale, the insider now owns 75,387 shares in the company, valued at $2,600,851.50. This represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,837 shares of company stock valued at $1,839,583. Corporate insiders own 6.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FIBK shares. StockNews.com upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Thursday, November 28th. Stephens reissued an "overweight" rating and issued a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Barclays lowered First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $32.00 to $30.00 in a research report on Thursday, October 31st. Keefe, Bruyette & Woods boosted their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the company a "market perform" rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price target on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an "underweight" rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.00.

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.