KLP Kapitalforvaltning AS Invests $622,000 in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

KLP Kapitalforvaltning AS bought a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the 4th quarter, Holdings Channel.com reports. The fund bought 19,145 shares of the financial services provider’s stock, valued at approximately $622,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FIBK. Point72 DIFC Ltd acquired a new stake in shares of First Interstate BancSystem during the third quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of First Interstate BancSystem in the 3rd quarter worth about $69,000. KBC Group NV raised its holdings in shares of First Interstate BancSystem by 34.1% during the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after buying an additional 1,022 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of First Interstate BancSystem during the fourth quarter worth approximately $241,000. Finally, FourThought Financial Partners LLC acquired a new stake in First Interstate BancSystem in the 4th quarter valued at approximately $242,000. 88.71% of the stock is owned by institutional investors.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the transaction, the director now directly owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.90% of the stock is currently owned by company insiders.

First Interstate BancSystem Trading Up 1.2 %

Shares of First Interstate BancSystem stock opened at $28.72 on Thursday. The firm has a market capitalization of $3.00 billion, a PE ratio of 13.11 and a beta of 0.84. The company’s fifty day moving average price is $30.68 and its two-hundred day moving average price is $31.70. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) 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%. On average, analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a dividend of $0.47 per share. The ex-dividend date was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.55%. First Interstate BancSystem’s payout ratio is 85.84%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FIBK shares. Wells Fargo & Company boosted their target price on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Stephens reduced their target price on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. UBS Group assumed coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price on the stock. Finally, DA Davidson reiterated a “buy” rating and issued a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.