Altus Wealth Group LLC Sells 673 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Altus Wealth Group LLC trimmed its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 2.7% during the 4th quarter, Holdings Channel reports. The fund owned 23,839 shares of the financial services provider’s stock after selling 673 shares during the period. Altus Wealth Group LLC’s holdings in First Interstate BancSystem were worth $774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FIBK. Victory Capital Management Inc. grew its position in First Interstate BancSystem by 309.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider’s stock worth $41,247,000 after acquiring an additional 960,372 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of First Interstate BancSystem by 73.9% in the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock worth $50,020,000 after purchasing an additional 654,688 shares during the period. Raymond James Financial Inc. bought a new position in shares of First Interstate BancSystem during the 4th quarter valued at approximately $10,451,000. Harbor Capital Advisors Inc. raised its holdings in First Interstate BancSystem by 37,734.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider’s stock valued at $4,595,000 after buying an additional 141,128 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in First Interstate BancSystem by 100.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 211,390 shares of the financial services provider’s stock worth $6,485,000 after buying an additional 105,670 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the sale, the director now owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.90% of the company’s stock.

First Interstate BancSystem Stock Performance

First Interstate BancSystem stock opened at $28.85 on Friday. First Interstate BancSystem, Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $36.77. The company has a market capitalization of $3.02 billion, a PE ratio of 13.17 and a beta of 0.84. The company has a 50 day moving average price of $31.47 and a 200-day moving average price of $31.81. 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 (NASDAQ:FIBK) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. As a group, equities analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is 85.84%.

Wall Street Analysts Forecast Growth

FIBK has been the topic of a number of analyst reports. DA Davidson reiterated a “buy” rating and set a $42.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Stephens reduced their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. UBS Group assumed coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price objective for the company. Piper Sandler cut their target price on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Barclays raised their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.