Villere ST Denis J & Co. LLC Sells 36,019 Shares of First Interstate BancSystem, Inc. $FIBK

Villere ST Denis J & Co. LLC cut its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 531,682 shares of the financial services provider’s stock after selling 36,019 shares during the period. First Interstate BancSystem accounts for about 2.0% of Villere ST Denis J & Co. LLC’s holdings, making the stock its 18th biggest position. Villere ST Denis J & Co. LLC’s holdings in First Interstate BancSystem were worth $19,002,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Fulcrum Asset Management LLP boosted its stake in First Interstate BancSystem by 294.3% during the 3rd quarter. Fulcrum Asset Management LLP now owns 1,388 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,036 shares during the period. Allspring Global Investments Holdings LLC grew its position in First Interstate BancSystem by 1.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 56,193 shares of the financial services provider’s stock worth $2,029,000 after purchasing an additional 975 shares during the last quarter. Vise Technologies Inc. increased its stake in First Interstate BancSystem by 47.6% in the third quarter. Vise Technologies Inc. now owns 10,172 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 3,279 shares during the period. Root Financial Partners LLC acquired a new position in First Interstate BancSystem in the third quarter valued at $25,000. Finally, Vest Financial LLC increased its stake in First Interstate BancSystem by 3.5% in the third quarter. Vest Financial LLC now owns 57,445 shares of the financial services provider’s stock valued at $2,053,000 after purchasing an additional 1,925 shares during the period. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK opened at $38.42 on Tuesday. The firm’s fifty day moving average price is $36.58 and its 200 day moving average price is $36.33. First Interstate BancSystem, Inc. has a 1-year low of $29.39 and a 1-year high of $40.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.68 and a quick ratio of 0.69. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 12.18 and a beta of 0.73.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). The firm had revenue of $43.30 million for the quarter, compared to analysts’ expectations of $247.93 million. First Interstate BancSystem had a return on equity of 9.49% and a net margin of 23.30%. On average, sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.79 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, November 3rd will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Tuesday, November 3rd. First Interstate BancSystem’s payout ratio is 58.57%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FIBK shares. DA Davidson reaffirmed a “neutral” rating and issued a $39.00 target price on shares of First Interstate BancSystem in a report on Monday, July 27th. Barclays raised their price target on First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a report on Monday, October 5th. Benchmark upgraded First Interstate BancSystem to a “hold” rating in a research report on Wednesday, September 23rd. Wall Street Zen downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Finally, Wells Fargo & Company increased their price objective on First Interstate BancSystem from $34.00 to $36.00 and gave the stock an “underweight” rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $37.43.

Insider Transactions at First Interstate BancSystem

In related news, major shareholder Jonathan Scott sold 16,929 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $37.03, for a total transaction of $626,880.87. Following the completion of the transaction, the insider directly owned 825,809 shares of the company’s stock, valued at $30,579,707.27. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Scott, Jr. sold 3,108 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $38.00, for a total transaction of $118,104.00. Following the transaction, the director directly owned 77,634 shares of the company’s stock, valued at $2,950,092. This represents a 3.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 40,858 shares of company stock worth $1,520,287 over the last ninety days. 8.00% of the stock is currently owned by company insiders.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a financial holding company whose principal subsidiary is First Interstate Bank. The bank provides personal, business and agricultural banking services, including deposit accounts, loans, mortgage lending and treasury management.

Its other offerings include wealth management, trust and investment services, and insurance. The company serves individuals, businesses and communities across a multistate footprint in the western and north-central United States.

Established in Montana in 1968, First Interstate BancSystem has grown through the development of its banking operations and acquisitions.