First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Purchased by Allied Investment Advisors LLC

Allied Investment Advisors LLC increased its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 32.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,480 shares of the financial services provider’s stock after buying an additional 3,270 shares during the quarter. Allied Investment Advisors LLC’s holdings in First Interstate BancSystem were worth $438,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FIBK. New York State Common Retirement Fund raised its stake in shares of First Interstate BancSystem by 14.0% during the 4th quarter. New York State Common Retirement Fund now owns 26,866 shares of the financial services provider’s stock valued at $872,000 after buying an additional 3,300 shares during the last quarter. Kestra Investment Management LLC grew its holdings in First Interstate BancSystem by 105.1% during the fourth quarter. Kestra Investment Management LLC now owns 52,757 shares of the financial services provider’s stock worth $1,713,000 after acquiring an additional 27,030 shares during the period. Rhumbline Advisers raised its position in First Interstate BancSystem by 1.4% during the fourth quarter. Rhumbline Advisers now owns 129,964 shares of the financial services provider’s stock valued at $4,220,000 after acquiring an additional 1,785 shares in the last quarter. Jennison Associates LLC lifted its holdings in First Interstate BancSystem by 73.9% in the fourth quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock valued at $50,020,000 after acquiring an additional 654,688 shares during the period. Finally, KBC Group NV boosted its position in First Interstate BancSystem by 34.1% in the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,022 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Tuesday, December 24th. Stephens decreased their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Barclays raised their target price on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods upped their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and an average price target of $36.14.

Insider Activity at First Interstate BancSystem

In other news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the transaction, the insider now owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. The trade was a 7.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the sale, the director now owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.

First Interstate BancSystem Stock Performance

NASDAQ FIBK opened at $32.75 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $32.61 and its 200-day simple moving average is $31.69. The company has a market cap of $3.42 billion, a PE ratio of 14.95 and a beta of 0.85. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. As a group, equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 10th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 5.74%. First Interstate BancSystem’s dividend payout ratio is presently 85.84%.

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.