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

Leeward Investments LLC MA lowered its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 631,978 shares of the financial services provider’s stock after selling 17,340 shares during the period. First Interstate BancSystem makes up 1.0% of Leeward Investments LLC MA’s investment portfolio, making the stock its 26th biggest holding. Leeward Investments LLC MA owned about 0.62% of First Interstate BancSystem worth $21,108,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. bought a new stake in First Interstate BancSystem in the 4th quarter valued at about $25,000. Kestra Advisory Services LLC acquired a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its stake in First Interstate BancSystem by 139.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 862 shares during the period. First Horizon Corp increased its holdings 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 valued at $44,000 after acquiring an additional 455 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of First Interstate BancSystem during the third quarter valued at approximately $52,000. Institutional investors own 88.71% of the company’s stock.

Insider Activity

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.97, for a total value of $539,550.00. Following the completion of the sale, the insider directly owned 488,359 shares of the company’s stock, valued at approximately $17,566,273.23. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Jonathan R. Scott sold 4,500 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $36.29, for a total transaction of $163,305.00. Following the completion of the sale, the insider owned 862,128 shares of the company’s stock, valued at approximately $31,286,625.12. This trade represents a 0.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 32,392 shares of company stock valued at $1,161,552. 8.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FIBK shares. DA Davidson cut First Interstate BancSystem from a “buy” rating to a “neutral” rating and cut their target price for the stock from $41.00 to $39.00 in a report on Wednesday, May 27th. Wells Fargo & Company boosted their price target on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the company an “underweight” rating in a research note on Monday, March 30th. Keefe, Bruyette & Woods restated 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. Wall Street Zen raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Monday. Finally, 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 report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, First Interstate BancSystem presently has an average rating of “Hold” and a consensus target price of $37.00.

First Interstate BancSystem Stock Up 1.7%

FIBK stock opened at $37.33 on Wednesday. The firm has a market capitalization of $3.63 billion, a PE ratio of 12.16 and a beta of 0.76. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. First Interstate BancSystem, Inc. has a twelve month low of $27.15 and a twelve month high of $39.26. The stock’s 50 day moving average is $35.36 and its 200-day moving average is $35.45.

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 (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $5.10 million during the quarter, compared to the consensus estimate of $242.78 million. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.During the same quarter in the prior year, the company posted $0.49 earnings per share. Sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.66 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

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 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 currently 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.