Jane Street Group LLC Buys 22,899 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Jane Street Group LLC boosted its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 13.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,084 shares of the financial services provider’s stock after acquiring an additional 22,899 shares during the quarter. Jane Street Group LLC owned 0.18% of First Interstate BancSystem worth $5,770,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after buying an additional 430 shares during the period. SG Americas Securities LLC lifted its stake in First Interstate BancSystem by 79.5% in the 2nd quarter. SG Americas Securities LLC now owns 18,021 shares of the financial services provider’s stock valued at $500,000 after acquiring an additional 7,979 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in First Interstate BancSystem during the 2nd quarter worth approximately $267,000. TNF LLC grew its stake in shares of First Interstate BancSystem by 1.7% during the 2nd quarter. TNF LLC now owns 25,009 shares of the financial services provider’s stock worth $694,000 after acquiring an additional 410 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of First Interstate BancSystem by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 887,559 shares of the financial services provider’s stock valued at $24,648,000 after purchasing an additional 11,493 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Interstate BancSystem

In related news, Director Jonathan R. Scott sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the transaction, the director now directly owns 958,710 shares in the company, valued at approximately $32,768,707.80. This represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the sale, the insider now owns 75,387 shares of the company’s stock, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,837 shares of company stock valued at $1,839,583 in the last three months. 6.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on FIBK shares. DA Davidson upgraded shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and lifted their price target for the company from $32.00 to $42.00 in a research note on Tuesday, November 26th. Wells Fargo & Company upped their target price on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Piper Sandler lowered their price target 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, Keefe, Bruyette & Woods increased their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.17.

First Interstate BancSystem Stock Performance

Shares of NASDAQ FIBK opened at $34.08 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $3.56 billion, a P/E ratio of 14.95 and a beta of 0.84. First Interstate BancSystem, Inc. has a 12 month low of $24.16 and a 12 month high of $36.77. The stock has a 50 day moving average of $32.79 and a 200-day moving average of $30.27.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter in the prior year, the firm earned $0.70 EPS. As a group, equities research analysts predict that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.52%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 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.