LMR Partners LLP Invests $579,000 in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

LMR Partners LLP acquired a new stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,858 shares of the financial services provider's stock, valued at approximately $579,000.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in First Interstate BancSystem by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider's stock worth $127,204,000 after buying an additional 367,212 shares during the period. Versor Investments LP purchased a new position in First Interstate BancSystem in the third quarter valued at about $914,000. Empower Advisory Group LLC raised its holdings in First Interstate BancSystem by 4.8% in the third quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider's stock worth $14,318,000 after purchasing an additional 21,191 shares in the last quarter. CWM LLC boosted its holdings 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. Finally, Renaissance Technologies LLC purchased a new position in shares of First Interstate BancSystem in the 2nd quarter worth approximately $825,000. 88.71% of the stock is currently owned by institutional investors.

Insider Transactions at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 20,220 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the transaction, the insider now directly owns 635,069 shares in the company, valued at approximately $20,817,561.82. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,320 shares of company stock worth $1,647,096 in the last ninety days. Insiders own 6.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. StockNews.com cut First Interstate BancSystem from a "hold" rating to a "sell" rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a "market perform" rating in a report on Monday, July 29th. Piper Sandler lowered their target price 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 target on shares of First Interstate BancSystem in a report on Thursday, October 10th. Finally, Barclays downgraded shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $32.00 to $30.00 in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, First Interstate BancSystem has a consensus rating of "Hold" and a consensus price target of $32.50.

First Interstate BancSystem Price Performance

FIBK traded down $0.03 during midday trading on Wednesday, hitting $33.39. 432,494 shares of the company traded hands, compared to its average volume of 673,458. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 14.66 and a beta of 0.81. The business has a 50 day simple moving average of $31.24 and a two-hundred day simple moving average of $29.40. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $34.53.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly 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 period last year, the business earned $0.70 earnings per share. On average, equities analysts forecast that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.63%. First Interstate BancSystem's payout ratio is 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.