Inspire Investing LLC Purchases 673 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Inspire Investing LLC lifted its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,422 shares of the financial services provider’s stock after buying an additional 673 shares during the quarter. Inspire Investing LLC’s holdings in First Interstate BancSystem were worth $412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. CWM LLC lifted its position in 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 during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of First Interstate BancSystem by 28.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 744 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of First Interstate BancSystem during the 2nd quarter worth about $106,000. nVerses Capital LLC boosted its stake in First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,300 shares during the period. Finally, Washington Trust Bank acquired a new stake in First Interstate BancSystem in the 2nd quarter valued at approximately $204,000. 88.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FIBK has been the subject of a number of research analyst reports. DA Davidson upped their price target on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Stephens reissued an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a report on Thursday, October 10th. Wells Fargo & Company downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $30.00 to $28.00 in a report on Tuesday, October 1st. Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $33.17.

First Interstate BancSystem Stock Up 1.0 %

Shares of FIBK opened at $32.84 on Friday. First Interstate BancSystem, Inc. has a 12 month low of $20.81 and a 12 month high of $33.00. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 13.08 and a beta of 0.81. The company has a 50-day moving average price of $30.08 and a two-hundred day moving average price of $28.37. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.92.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. The business had revenue of $244.30 million during the quarter, compared to the consensus estimate of $246.07 million. During the same quarter last year, the company earned $0.66 EPS. Equities analysts predict that First Interstate BancSystem, Inc. will post 2.34 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.72%. The ex-dividend date was Monday, August 5th. First Interstate BancSystem’s payout ratio is 74.90%.

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.