First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC lessened its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 26.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,570 shares of the financial services provider’s stock after selling 1,275 shares during the period. ICA Group Wealth Management LLC’s holdings in First Interstate BancSystem were worth $99,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. TNF LLC lifted its position in shares of First Interstate BancSystem by 1.7% in the second quarter. TNF LLC now owns 25,009 shares of the financial services provider’s stock valued at $694,000 after acquiring an additional 410 shares in the last quarter. Caprock Group LLC raised its stake in First Interstate BancSystem by 1.7% in the 2nd quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 422 shares during the last quarter. CWM LLC lifted its holdings in 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 purchasing an additional 430 shares in the last quarter. Inspire Investing LLC boosted its stake in First Interstate BancSystem by 4.6% during the 1st quarter. Inspire Investing LLC now owns 13,057 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 570 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of 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 valued at $104,000 after buying an additional 744 shares during the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Stock Performance

NASDAQ FIBK opened at $30.20 on Monday. The stock has a fifty day simple moving average of $29.87 and a 200-day simple moving average of $27.69. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92. The stock has a market cap of $3.16 billion, a PE ratio of 12.03 and a beta of 0.82. First Interstate BancSystem, Inc. has a twelve month low of $20.81 and a twelve month high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.03. The company had revenue of $244.30 million during the quarter, compared to analyst estimates of $246.07 million. 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 posted $0.66 earnings per share. Equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.34 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date was Monday, August 5th. First Interstate BancSystem’s dividend payout ratio (DPR) is 74.90%.

Analyst Upgrades and Downgrades

FIBK has been the subject of several research reports. 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 note on Monday, July 29th. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Thursday. Stephens upped their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Wells Fargo & Company lifted their price target on First Interstate BancSystem from $25.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Barclays upped their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, First Interstate BancSystem has a consensus rating of “Hold” and a consensus target price of $33.33.

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.