Quest Partners LLC Raises Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Quest Partners LLC boosted its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1,115.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 82,998 shares of the financial services provider’s stock after buying an additional 76,169 shares during the period. Quest Partners LLC’s holdings in First Interstate BancSystem were worth $2,546,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of FIBK. CWM LLC increased its stake 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 worth $87,000 after buying an additional 430 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of First Interstate BancSystem during the second quarter valued at about $106,000. nVerses Capital LLC grew its position in shares of First Interstate BancSystem by 412.5% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,300 shares in the last quarter. Telos Capital Management Inc. purchased a new position in shares of First Interstate BancSystem during the third quarter valued at about $201,000. Finally, Washington Trust Bank purchased a new position in shares of First Interstate BancSystem during the second quarter valued at about $204,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $32.00 to $30.00 in a research report on Thursday, October 31st. Stephens reaffirmed an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a report on Thursday, October 10th. DA Davidson increased their price target on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and an average price target of $32.50.

Insider Transactions at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 22,050 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the transaction, the insider now directly owns 613,019 shares in the company, valued at $20,720,042.20. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the transaction, the director now owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,320 shares of company stock worth $1,647,096. Company insiders own 6.90% of the company’s stock.

First Interstate BancSystem Stock Performance

First Interstate BancSystem stock opened at $33.14 on Monday. The company has a market capitalization of $3.46 billion, a PE ratio of 14.54 and a beta of 0.81. The company has a 50 day moving average price of $31.09 and a 200-day moving average price of $29.31. 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 fifty-two week low of $24.16 and a fifty-two week high of $34.53.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the business earned $0.70 earnings per share. As a group, equities analysts forecast that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.67%. First Interstate BancSystem’s payout ratio is currently 82.46%.

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.