FourThought Financial Partners LLC Purchases New Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

FourThought Financial Partners LLC acquired a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the 4th quarter, Holdings Channel reports. The firm acquired 7,464 shares of the financial services provider’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also bought and sold shares of FIBK. Creative Planning raised its position in shares of First Interstate BancSystem by 23.0% in the 3rd quarter. Creative Planning now owns 30,033 shares of the financial services provider’s stock worth $921,000 after acquiring an additional 5,618 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake 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 worth $311,000 after purchasing an additional 507 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in 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 in the last quarter. TNF LLC lifted its position in First Interstate BancSystem by 1.5% during the third quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock valued at $812,000 after buying an additional 367 shares during the period. Finally, Versor Investments LP bought a new stake in shares of First Interstate BancSystem during the 3rd quarter valued at $914,000. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $30.34 on Thursday. The company has a market capitalization of $3.17 billion, a P/E ratio of 13.85 and a beta of 0.85. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $32.32 and a 200 day moving average of $31.84.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping 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 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is 85.84%.

Insider Buying and Selling at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the transaction, the director now directly owns 1,414,886 shares of the company’s stock, valued at $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FIBK. UBS Group began coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price target for the company. Barclays raised their target price on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. DA Davidson reissued a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Piper Sandler cut their price target on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.14.

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.