Capstone Wealth Management Inc. Buys New Position in First Interstate BancSystem, Inc. $FIBK

Capstone Wealth Management Inc. purchased a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the fourth quarter, Holdings Channel reports. The firm purchased 22,245 shares of the financial services provider’s stock, valued at approximately $776,000. First Interstate BancSystem makes up about 0.7% of Capstone Wealth Management Inc.’s holdings, making the stock its 24th biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. acquired a new stake in shares of First Interstate BancSystem in the fourth quarter valued at approximately $25,000. Kestra Advisory Services LLC acquired a new position in shares of First Interstate BancSystem in the 4th quarter valued at $29,000. First Horizon Corp increased its holdings in shares of First Interstate BancSystem by 56.0% in the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 455 shares during the period. EverSource Wealth Advisors LLC raised its position in 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 valued at $43,000 after purchasing an additional 862 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in First Interstate BancSystem by 49.6% in the 4th quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 516 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Wall Street Zen upgraded shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $37.00 target price (down from $38.00) on shares of First Interstate BancSystem in a report on Friday, May 1st. DA Davidson downgraded shares of First Interstate BancSystem from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $41.00 to $39.00 in a research note on Wednesday, May 27th. Finally, Weiss Ratings lowered First Interstate BancSystem from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and a consensus price target of $37.00.

Insider Transactions at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.97, for a total transaction of $539,550.00. Following the transaction, the insider directly owned 488,359 shares in the company, valued at $17,566,273.23. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Jonathan R. Scott sold 12,892 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $35.58, for a total transaction of $458,697.36. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 32,392 shares of company stock worth $1,161,552. Company insiders own 8.00% of the company’s stock.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK opened at $36.43 on Friday. The firm’s fifty day moving average price is $35.19 and its 200 day moving average price is $35.37. First Interstate BancSystem, Inc. has a 1-year low of $26.16 and a 1-year high of $39.26. 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 firm has a market cap of $3.54 billion, a price-to-earnings ratio of 11.87 and a beta of 0.76.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $5.10 million for the quarter, compared to analysts’ expectations of $242.78 million. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.13%. During the same period in the previous year, the company posted $0.49 EPS. On average, sell-side 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 announced 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 5.2%. First Interstate BancSystem’s payout ratio is presently 61.24%.

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.