Leeward Investments LLC MA Sells 17,340 Shares of First Interstate BancSystem, Inc. $FIBK

Leeward Investments LLC MA trimmed its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 631,978 shares of the financial services provider’s stock after selling 17,340 shares during the quarter. First Interstate BancSystem makes up 1.0% of Leeward Investments LLC MA’s holdings, making the stock its 26th biggest position. Leeward Investments LLC MA’s holdings in First Interstate BancSystem were worth $21,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. AdvisorNet Financial Inc raised its holdings in shares of First Interstate BancSystem by 210.4% in the 1st quarter. AdvisorNet Financial Inc now owns 4,345 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 2,945 shares during the period. SG Americas Securities LLC grew its holdings in First Interstate BancSystem by 43.5% during the first quarter. SG Americas Securities LLC now owns 108,497 shares of the financial services provider’s stock valued at $3,624,000 after purchasing an additional 32,914 shares during the period. Hsbc Holdings PLC bought a new position in First Interstate BancSystem during the fourth quarter valued at $2,127,000. Capstone Wealth Management Inc. purchased a new stake in First Interstate BancSystem in the fourth quarter worth $776,000. Finally, Invesco Ltd. increased its position in First Interstate BancSystem by 21.7% in the fourth quarter. Invesco Ltd. now owns 370,064 shares of the financial services provider’s stock worth $12,804,000 after buying an additional 66,038 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group upped their price target on First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a research report on Friday, May 1st. Weiss Ratings cut First Interstate BancSystem from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 16th. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Monday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $37.00 price objective (down from $38.00) on shares of First Interstate BancSystem in a report on Friday, May 1st. Finally, Piper Sandler cut their target price on shares of First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.00.

First Interstate BancSystem Trading Up 1.7%

NASDAQ:FIBK opened at $37.33 on Wednesday. First Interstate BancSystem, Inc. has a 1 year low of $27.15 and a 1 year high of $39.26. The stock’s fifty day moving average price is $35.36 and its two-hundred day moving average price is $35.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $3.63 billion, a P/E ratio of 12.16 and a beta of 0.76.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.The company had revenue of $5.10 million during the quarter, compared to analysts’ expectations of $242.78 million. During the same period in the previous year, the business earned $0.49 earnings per share. As a group, analysts expect that First Interstate BancSystem, Inc. will post 2.66 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.88 annualized dividend and a dividend yield of 5.0%. First Interstate BancSystem’s dividend payout ratio is presently 61.24%.

Insider Buying and Selling at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 15,000 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.97, for a total value of $539,550.00. Following the sale, the insider owned 488,359 shares in the company, valued at approximately $17,566,273.23. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Jonathan R. Scott sold 12,892 shares of First Interstate BancSystem stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $35.58, for a total value of $458,697.36. Following the sale, the insider directly owned 866,628 shares of the company’s stock, valued at $30,834,624.24. This represents a 1.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 32,392 shares of company stock worth $1,161,552. Insiders own 8.00% of the company’s stock.

First Interstate BancSystem Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.