Allied Investment Advisors LLC Raises Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Allied Investment Advisors LLC raised its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 32.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,480 shares of the financial services provider’s stock after buying an additional 3,270 shares during the quarter. Allied Investment Advisors LLC’s holdings in First Interstate BancSystem were worth $438,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new position in shares of First Interstate BancSystem during the 3rd quarter worth approximately $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in First Interstate BancSystem in the third quarter valued at approximately $69,000. KBC Group NV lifted its stake in 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 worth $130,000 after purchasing an additional 1,022 shares in the last quarter. CWM LLC boosted its position in shares of First Interstate BancSystem by 65.0% during the third quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock worth $158,000 after buying an additional 2,029 shares during the period. Finally, Telos Capital Management Inc. acquired a new stake in shares of First Interstate BancSystem in the third quarter valued at $201,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 0.2 %

Shares of First Interstate BancSystem stock opened at $32.75 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.77. The company has a market capitalization of $3.42 billion, a P/E ratio of 14.95 and a beta of 0.85. The company has a 50 day moving average of $32.61 and a 200 day moving average of $31.69.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. As a group, research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 10th will be issued a $0.47 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.74%. First Interstate BancSystem’s payout ratio is currently 85.84%.

Insider Activity

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the transaction, the director now 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the transaction, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on FIBK. UBS Group started coverage on 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. DA Davidson reissued a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price objective on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods increased their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Tuesday, December 24th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Interstate BancSystem currently has a consensus rating of “Hold” and an average target price of $36.14.

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.