Versor Investments LP Purchases New Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Versor Investments LP 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 Form 13F filing with the SEC. The institutional investor acquired 29,800 shares of the financial services provider's stock, valued at approximately $914,000.

A number of other large investors have also added to or reduced their stakes in FIBK. TNF LLC raised 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 acquiring an additional 367 shares in the last quarter. Caprock Group LLC lifted its stake in shares of First Interstate BancSystem by 1.7% in the 2nd quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider's stock valued at $713,000 after purchasing an additional 422 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 worth $87,000 after acquiring an additional 430 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in 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 purchasing an additional 507 shares during the period. Finally, Inspire Investing LLC increased its holdings in First Interstate BancSystem by 4.6% in the 1st quarter. Inspire Investing LLC now owns 13,057 shares of the financial services provider's stock worth $355,000 after acquiring an additional 570 shares in the last quarter. Institutional investors own 88.71% of the company's stock.

Insider Transactions 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 completion of the sale, the insider now owns 635,069 shares of the company's stock, valued at $20,817,561.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 22,050 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 directly owns 613,019 shares in the company, valued at $20,720,042.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Julie A. Scott sold 20,220 shares of the company'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 completion of the transaction, the insider now directly owns 635,069 shares in the company, valued at $20,817,561.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,820 shares of company stock valued at $1,424,926 over the last quarter. Company insiders own 6.90% of the company's stock.

First Interstate BancSystem Trading Down 0.7 %

Shares of FIBK traded down $0.23 during mid-day trading on Wednesday, reaching $33.51. The company had a trading volume of 549,659 shares, compared to its average volume of 678,497. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 14.70 and a beta of 0.81. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $30.87 and a 200-day simple moving average of $29.19. First Interstate BancSystem, Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $34.53.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released 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 period in the previous year, the company earned $0.70 earnings per share. On average, sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date is Monday, November 4th. First Interstate BancSystem's dividend payout ratio is presently 82.46%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FIBK. DA Davidson boosted their price target on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a "neutral" rating in a research report on Monday, July 29th. Piper Sandler cut their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Stephens reissued an "overweight" rating and set a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. StockNews.com upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Tuesday. Finally, Wells Fargo & Company lowered First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $30.00 to $28.00 in a research report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $32.50.

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.