Advantage Alpha Capital Partners LP Boosts Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Advantage Alpha Capital Partners LP lifted its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 41.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,072 shares of the financial services provider’s stock after buying an additional 4,684 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in First Interstate BancSystem were worth $493,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in First Interstate BancSystem by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,919 shares of the financial services provider’s stock worth $1,413,000 after acquiring an additional 2,940 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of First Interstate BancSystem during the first quarter worth about $286,000. CWM LLC raised its position in shares of First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 430 shares during the last quarter. SG Americas Securities LLC lifted its stake in First Interstate BancSystem by 79.5% in the 2nd quarter. SG Americas Securities LLC now owns 18,021 shares of the financial services provider’s stock valued at $500,000 after buying an additional 7,979 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in First Interstate BancSystem in the 2nd quarter worth about $241,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analyst Ratings Changes

FIBK has been the topic of a number of research analyst reports. 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. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $32.00 to $30.00 in a research note on Thursday, October 31st. Stephens restated an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a research report on Thursday, October 10th. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, First Interstate BancSystem has an average rating of “Hold” and a consensus target price of $33.83.

Insider Buying and Selling

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 22,050 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the sale, the insider now directly owns 613,019 shares in the company, valued at $20,720,042.20. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 directly owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,837 shares of company stock valued at $1,839,583. Company insiders own 6.90% of the company’s stock.

First Interstate BancSystem Price Performance

FIBK stock opened at $35.41 on Wednesday. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.77. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 15.53 and a beta of 0.81. The business has a fifty day moving average of $31.70 and a two-hundred day moving average of $29.64.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data 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 period last year, the company earned $0.70 EPS. As a group, research analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.31%. First Interstate BancSystem’s dividend 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.