State Street Corp Trims Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

State Street Corp cut its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,904,181 shares of the financial services provider’s stock after selling 189,256 shares during the quarter. State Street Corp owned about 3.73% of First Interstate BancSystem worth $119,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of FIBK. Point72 DIFC Ltd purchased a new stake in shares of First Interstate BancSystem in the third quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in First Interstate BancSystem in the 3rd quarter worth about $69,000. CWM LLC raised its holdings in shares of First Interstate BancSystem by 16.0% in the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 430 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of First Interstate BancSystem during the 2nd quarter valued at about $106,000. Finally, nVerses Capital LLC boosted its position in shares of 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 acquiring an additional 3,300 shares during the last quarter. 88.71% of the stock is owned by institutional investors.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the sale, the director now directly owns 958,710 shares of the company’s stock, valued at $32,768,707.80. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock valued at $1,839,583 in the last 90 days. Insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. 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. Stephens reaffirmed an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a report on Thursday, October 10th. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. DA Davidson raised First Interstate BancSystem from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $32.00 to $42.00 in a research note on Tuesday, November 26th. 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 research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.17.

First Interstate BancSystem Stock Up 0.0 %

Shares of First Interstate BancSystem stock opened at $34.08 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.77. The company’s 50 day moving average price is $32.79 and its 200-day moving average price is $30.27. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 14.95 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (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 business posted $0.70 earnings per share. Equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.47 per share. The ex-dividend date 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 is presently 82.46%.

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.