First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock Position Lifted by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. boosted its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 5.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,136 shares of the financial services provider’s stock after purchasing an additional 507 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in First Interstate BancSystem were worth $311,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC grew its position in First Interstate BancSystem by 16.0% in the second 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. PNC Financial Services Group Inc. grew its position in First Interstate BancSystem by 28.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 744 shares in the last quarter. Innealta Capital LLC bought a new stake in First Interstate BancSystem in the second quarter worth approximately $106,000. nVerses Capital LLC grew its position in First Interstate BancSystem by 412.5% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Telos Capital Management Inc. bought a new stake in First Interstate BancSystem in the third quarter worth approximately $201,000. 88.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on FIBK shares. Stephens reissued an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. DA Davidson upped their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Piper Sandler decreased their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.83.

First Interstate BancSystem Price Performance

NASDAQ FIBK opened at $31.42 on Wednesday. The company has a market cap of $3.29 billion, a P/E ratio of 12.52 and a beta of 0.81. First Interstate BancSystem, Inc. has a 1 year low of $22.74 and a 1 year high of $33.00. The company has a fifty day simple moving average of $30.50 and a 200 day simple moving average of $28.69. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. During the same quarter last year, the firm earned $0.70 EPS. On average, sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.34 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.98%. The ex-dividend date of this dividend is Monday, November 4th. First Interstate BancSystem’s payout ratio is currently 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.