First Interstate BancSystem, Inc. $FIBK Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 43.5% during the first quarter, Holdings Channel.com reports. The firm owned 108,497 shares of the financial services provider’s stock after buying an additional 32,914 shares during the quarter. SG Americas Securities LLC’s holdings in First Interstate BancSystem were worth $3,624,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Eurizon Capital SGR S.p.A. acquired a new stake in First Interstate BancSystem in the fourth quarter worth about $25,000. Kestra Advisory Services LLC acquired a new position in First Interstate BancSystem during the 4th quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its position in shares of First Interstate BancSystem by 139.3% during the 2nd 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 in the last quarter. First Horizon Corp lifted its stake 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 worth $44,000 after acquiring an additional 455 shares during the period. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of First Interstate BancSystem in the 3rd quarter worth approximately $52,000. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Stock Down 0.1%

NASDAQ FIBK opened at $38.56 on Wednesday. First Interstate BancSystem, Inc. has a 12 month low of $27.60 and a 12 month high of $39.26. The company has a market capitalization of $3.75 billion, a P/E ratio of 12.56 and a beta of 0.76. The company’s 50 day simple moving average is $35.78 and its 200 day simple moving average is $35.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $5.10 million during 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 last year, the firm posted $0.49 earnings per share. Equities research analysts expect that First Interstate BancSystem, Inc. will post 2.66 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given 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 was Monday, May 11th. First Interstate BancSystem’s dividend payout ratio is 61.24%.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 15,000 shares of the business’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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Jonathan R. Scott sold 4,500 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $36.29, for a total value of $163,305.00. Following the sale, the insider directly owned 862,128 shares of the company’s stock, valued at approximately $31,286,625.12. This represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 32,392 shares of company stock valued at $1,161,552. Corporate insiders own 8.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Monday, June 22nd. Piper Sandler cut their target price on First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. UBS Group increased their price target on First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Friday, May 1st. Weiss Ratings cut First Interstate BancSystem from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company boosted their price objective on First Interstate BancSystem from $30.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, March 30th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.00.

First Interstate BancSystem 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.