Healthcare of Ontario Pension Plan Trust Fund Purchases New Shares in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 77,000 shares of the financial services provider's stock, valued at approximately $2,362,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.07% of First Interstate BancSystem at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CWM LLC grew its stake in shares of First Interstate BancSystem by 16.0% in 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 in the last quarter. Innealta Capital LLC bought a new stake in First Interstate BancSystem in the second quarter worth approximately $106,000. nVerses Capital LLC raised its holdings in shares of First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider's stock valued at $114,000 after purchasing an additional 3,300 shares in the last quarter. Telos Capital Management Inc. acquired a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at $201,000. Finally, Washington Trust Bank bought a new stake in First Interstate BancSystem in the second quarter worth $204,000. 88.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FIBK. DA Davidson upgraded First Interstate BancSystem from a "neutral" rating to a "buy" rating and raised their target price for the company from $32.00 to $42.00 in a report on Tuesday, November 26th. Piper Sandler reduced their target price on First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Barclays downgraded First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $32.00 to $30.00 in a report on Thursday, October 31st. Wells Fargo & Company cut shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Finally, StockNews.com upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $33.83.

First Interstate BancSystem Stock Performance

Shares of FIBK stock traded down $0.38 during mid-day trading on Friday, reaching $34.97. The stock had a trading volume of 287,646 shares, compared to its average volume of 638,211. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77. The firm has a market cap of $3.66 billion, a PE ratio of 15.34 and a beta of 0.81. The firm's 50 day simple moving average is $31.93 and its 200 day simple moving average is $29.79. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate 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 period in the prior year, the firm earned $0.70 earnings per share. On average, analysts forecast that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.38%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem's dividend payout ratio (DPR) is presently 82.46%.

Insiders Place Their Bets

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