Advantage Alpha Capital Partners LP Has $587,000 Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Advantage Alpha Capital Partners LP lifted its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,067 shares of the financial services provider’s stock after purchasing an additional 1,995 shares during the period. Advantage Alpha Capital Partners LP’s holdings in First Interstate BancSystem were worth $587,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in First Interstate BancSystem in the third quarter valued at about $69,000. KBC Group NV increased its position in First Interstate BancSystem by 34.1% in the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,022 shares during the period. Cibc World Markets Corp bought a new stake in First Interstate BancSystem during the 4th quarter worth about $241,000. Finally, FourThought Financial Partners LLC acquired a new position in First Interstate BancSystem during the 4th quarter valued at about $242,000. Institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FIBK shares. DA Davidson reissued a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Barclays increased their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Piper Sandler decreased their price objective on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Keefe, Bruyette & Woods upped their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, UBS Group initiated coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $36.14.

Insider Activity at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the sale, the director now owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by insiders.

First Interstate BancSystem Stock Up 2.5 %

Shares of First Interstate BancSystem stock opened at $29.41 on Tuesday. The company has a market capitalization of $3.07 billion, a P/E ratio of 13.43 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50-day moving average of $31.18 and a two-hundred day moving average of $31.75. First Interstate BancSystem, Inc. has a 1 year low of $24.16 and a 1 year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. As a group, equities analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.39%. First Interstate BancSystem’s payout ratio is 85.84%.

First Interstate BancSystem Profile

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.