Stockman Wealth Management Inc. Has $3.03 Million Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Stockman Wealth Management Inc. lowered its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 2.2% during the fourth quarter, Holdings Channel reports. The firm owned 93,372 shares of the financial services provider’s stock after selling 2,146 shares during the period. Stockman Wealth Management Inc.’s holdings in First Interstate BancSystem were worth $3,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FIBK. AQR Capital Management LLC acquired a new position in shares of First Interstate BancSystem in the 2nd quarter worth approximately $242,000. The Manufacturers Life Insurance Company increased its stake in shares of First Interstate BancSystem by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock valued at $1,370,000 after acquiring an additional 598 shares in the last quarter. Creative Planning increased its stake in shares of First Interstate BancSystem by 11.6% in the 2nd quarter. Creative Planning now owns 24,415 shares of the financial services provider’s stock valued at $678,000 after acquiring an additional 2,545 shares in the last quarter. CWM LLC increased its stake in shares of First Interstate BancSystem by 65.0% in the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 2,029 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in shares of First Interstate BancSystem by 5.3% in the 3rd quarter. Inspire Investing LLC now owns 13,422 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 673 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

NASDAQ FIBK opened at $32.86 on Friday. First Interstate BancSystem, Inc. has a 1 year low of $24.16 and a 1 year high of $36.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 15.00 and a beta of 0.85. The company has a fifty day moving average price of $32.84 and a 200-day moving average price of $31.65.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results 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, equities research analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 10th will be paid a $0.47 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 5.72%. First Interstate BancSystem’s payout ratio is 85.85%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FIBK. Piper Sandler lowered their price objective on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. DA Davidson reiterated a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Keefe, Bruyette & Woods boosted their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Barclays boosted their price target 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. Finally, Stephens decreased their price target on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.14.

Insider Transactions at First Interstate BancSystem

In related news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $34.50, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of the business’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 directly owns 958,710 shares in the company, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,617 shares of company stock worth $1,176,772 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

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.