First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Bought by Quest Partners LLC

Quest Partners LLC lifted its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 1,115.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,998 shares of the financial services provider's stock after purchasing an additional 76,169 shares during the quarter. Quest Partners LLC owned about 0.08% of First Interstate BancSystem worth $2,546,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Empower Advisory Group LLC grew its holdings in shares of First Interstate BancSystem by 4.8% during the third quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider's stock valued at $14,318,000 after buying an additional 21,191 shares during the last quarter. Versor Investments LP purchased a new stake in First Interstate BancSystem during the 3rd quarter valued at about $914,000. TNF LLC increased its holdings in shares of First Interstate BancSystem by 1.5% in the third quarter. TNF LLC now owns 25,376 shares of the financial services provider's stock valued at $812,000 after purchasing an additional 367 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of First Interstate BancSystem by 20.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,874 shares of the financial services provider's stock worth $395,000 after purchasing an additional 2,169 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of First Interstate BancSystem during the third quarter worth about $311,000. 88.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FIBK shares. Wells Fargo & Company lowered shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $30.00 to $28.00 in a research report on Tuesday, October 1st. Stephens restated an "overweight" rating and issued a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Piper Sandler reduced their price target on First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. DA Davidson upped their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Finally, Barclays cut shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $32.00 to $30.00 in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, First Interstate BancSystem currently has a consensus rating of "Hold" and an average price target of $32.50.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock traded up $0.23 during trading on Monday, reaching $33.37. The company had a trading volume of 122,391 shares, compared to its average volume of 673,069. The firm has a market capitalization of $3.49 billion, a PE ratio of 14.54 and a beta of 0.81. The firm's 50-day simple moving average is $31.09 and its 200 day simple moving average is $29.32. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $34.53.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results 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 previous year, the firm posted $0.70 EPS. As a group, equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed 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 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%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 20,220 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $20,817,561.82. This represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jonathan R. Scott sold 6,500 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the transaction, the director now owns 958,710 shares of the company's stock, valued at approximately $32,768,707.80. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,320 shares of company stock worth $1,647,096 in the last three months. 6.90% of the stock is owned by corporate insiders.

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.