73,862 Shares in First Interstate BancSystem, Inc. $FIBK Acquired by NFJ Investment Group LLC

NFJ Investment Group LLC bought a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 73,862 shares of the financial services provider’s stock, valued at approximately $2,848,000.

Several other large investors also recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. acquired a new position in First Interstate BancSystem during the 4th quarter valued at approximately $25,000. Kestra Advisory Services LLC acquired a new stake in shares of First Interstate BancSystem during the fourth quarter worth $29,000. First Horizon Corp lifted its stake in shares of First Interstate BancSystem by 56.0% during the fourth quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock worth $44,000 after buying an additional 455 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of First Interstate BancSystem by 139.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after buying an additional 862 shares during the period. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of First Interstate BancSystem during the third quarter valued at $52,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Down 0.1%

FIBK stock opened at $37.81 on Friday. First Interstate BancSystem, Inc. has a 52 week low of $29.10 and a 52 week high of $40.60. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $38.21 and a 200-day simple moving average of $36.20. The stock has a market capitalization of $3.60 billion, a P/E ratio of 11.63 and a beta of 0.76.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.18. First Interstate BancSystem had a return on equity of 9.55% and a net margin of 23.63%.The company had revenue of $263.90 million for the quarter, compared to analysts’ expectations of $249.32 million. During the same period in the previous year, the firm posted $0.69 EPS. First Interstate BancSystem’s revenue was up 6.4% compared to the same quarter last year. Equities analysts forecast that First Interstate BancSystem, Inc. will post 2.84 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Tuesday, August 4th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, August 4th. First Interstate BancSystem’s dividend payout ratio is currently 57.85%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Monday, June 22nd. DA Davidson restated a “neutral” rating and issued a $39.00 price objective on shares of First Interstate BancSystem in a research note on Monday, July 27th. Barclays lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $38.00 to $37.00 in a research report on Monday, August 3rd. UBS Group lifted their price objective on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $36.83.

Insiders Place Their Bets

In other First Interstate BancSystem news, 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 transaction of $458,697.36. Following the sale, the insider owned 866,628 shares of the company’s stock, valued at $30,834,624.24. The trade was a 1.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Julie A. Scott sold 15,000 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.97, for a total transaction of $539,550.00. Following the sale, the insider directly owned 488,359 shares of the company’s stock, valued at $17,566,273.23. The trade was a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,392 shares of company stock worth $1,161,552 in the last 90 days. 8.00% of the stock is currently owned by insiders.

About First Interstate BancSystem

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.