Leeward Investments LLC MA Sells 14,553 Shares of First Interstate BancSystem, Inc. $FIBK

Leeward Investments LLC MA lowered its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 652,333 shares of the financial services provider’s stock after selling 14,553 shares during the period. First Interstate BancSystem accounts for about 1.1% of Leeward Investments LLC MA’s holdings, making the stock its 20th largest holding. Leeward Investments LLC MA owned 0.62% of First Interstate BancSystem worth $20,790,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FIBK. First Horizon Corp purchased a new stake in shares of First Interstate BancSystem in the third quarter worth $26,000. EverSource Wealth Advisors LLC raised its position in shares of First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 862 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in First Interstate BancSystem by 1,485.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,500 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in First Interstate BancSystem during the 3rd quarter valued at about $75,000. Finally, State of Alaska Department of Revenue purchased a new stake in First Interstate BancSystem during the 3rd quarter valued at about $131,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FIBK. DA Davidson reaffirmed a “buy” rating and issued a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 29th. Keefe, Bruyette & Woods raised their price target on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Piper Sandler boosted their price objective on shares of First Interstate BancSystem from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. UBS Group reaffirmed a “neutral” rating and issued a $38.00 price objective on shares of First Interstate BancSystem in a research report on Wednesday, February 4th. Finally, Barclays reduced their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, January 30th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, First Interstate BancSystem has an average rating of “Hold” and a consensus price target of $38.17.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 30,432 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $31.03, for a total value of $944,304.96. Following the transaction, the director directly owned 1,414,636 shares of the company’s stock, valued at approximately $43,896,155.08. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Jonathan R. Scott sold 3,173 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $36.20, for a total transaction of $114,862.60. Following the sale, the insider directly owned 937,851 shares of the company’s stock, valued at $33,950,206.20. The trade was a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 45,432 shares of company stock valued at $1,454,120. 8.20% of the stock is owned by company insiders.

First Interstate BancSystem Stock Up 0.9%

Shares of First Interstate BancSystem stock opened at $37.66 on Friday. First Interstate BancSystem, Inc. has a twelve month low of $22.95 and a twelve month high of $39.26. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $36.46 and its 200 day moving average is $33.30. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 12.77 and a beta of 0.80.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.44. The business had revenue of $205.10 million during the quarter, compared to the consensus estimate of $256.89 million. First Interstate BancSystem had a net margin of 17.62% and a return on equity of 8.83%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. Research analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Tuesday, February 10th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Tuesday, February 10th. First Interstate BancSystem’s dividend payout ratio is 63.73%.

First Interstate BancSystem Company 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.