Ashton Thomas Private Wealth LLC Trims Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Ashton Thomas Private Wealth LLC trimmed its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 78,569 shares of the financial services provider’s stock after selling 995 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in First Interstate BancSystem were worth $2,410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in First Interstate BancSystem by 235.6% during the 1st quarter. BNP Paribas Financial Markets now owns 78,311 shares of the financial services provider’s stock valued at $2,131,000 after buying an additional 54,973 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of First Interstate BancSystem in the 1st quarter valued at approximately $273,000. Swiss National Bank boosted its stake in First Interstate BancSystem by 6.0% in the 1st quarter. Swiss National Bank now owns 186,546 shares of the financial services provider’s stock worth $5,076,000 after purchasing an additional 10,600 shares in the last quarter. Sei Investments Co. grew its position in First Interstate BancSystem by 5.8% during the 1st quarter. Sei Investments Co. now owns 448,158 shares of the financial services provider’s stock worth $12,194,000 after purchasing an additional 24,552 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in First Interstate BancSystem by 4.6% during the 1st quarter. Inspire Investing LLC now owns 13,057 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Insider Activity

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 22,050 shares of the firm’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 sale, the insider now directly owns 613,019 shares of the company’s stock, valued at approximately $20,720,042.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction dated 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 owns 635,069 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Julie A. Scott sold 22,050 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 42,820 shares of company stock worth $1,424,926 in the last ninety days. Company insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FIBK shares. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Tuesday. Barclays lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $32.00 to $30.00 in a report on Thursday, October 31st. DA Davidson raised their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Piper Sandler dropped their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, Stephens reissued an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.50.

First Interstate BancSystem Trading Down 0.6 %

Shares of NASDAQ:FIBK opened at $33.74 on Wednesday. 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 12-month low of $22.89 and a 12-month high of $34.53. The business has a 50 day moving average of $30.81 and a two-hundred day moving average of $29.14. The company has a market capitalization of $3.53 billion, a PE ratio of 14.80 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter last year, the firm earned $0.70 earnings per share. As a group, analysts forecast that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date is Monday, November 4th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 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.