Thrivent Financial for Lutherans Purchases New Position in First Interstate BancSystem, Inc. $FIBK

Thrivent Financial for Lutherans purchased a new stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 61,508 shares of the financial services provider’s stock, valued at approximately $2,128,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FIBK. AQR Capital Management LLC increased its stake in shares of First Interstate BancSystem by 37.2% in the 1st quarter. AQR Capital Management LLC now owns 67,214 shares of the financial services provider’s stock valued at $1,926,000 after purchasing an additional 18,210 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of First Interstate BancSystem by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,230 shares of the financial services provider’s stock valued at $1,353,000 after purchasing an additional 2,070 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of First Interstate BancSystem in the 1st quarter valued at about $238,000. Jones Financial Companies Lllp increased its stake in shares of First Interstate BancSystem by 24,352.5% in the 1st quarter. Jones Financial Companies Lllp now owns 24,697 shares of the financial services provider’s stock valued at $708,000 after purchasing an additional 24,596 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of First Interstate BancSystem in the 1st quarter valued at about $5,125,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Stephens lowered First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a research note on Thursday, February 5th. Barclays cut their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, January 30th. DA Davidson boosted their price objective on First Interstate BancSystem from $39.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. UBS Group boosted their price objective on First Interstate BancSystem from $30.00 to $33.00 and gave the stock a “sell” rating in a research note on Friday, May 1st. 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. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.33.

First Interstate BancSystem Price Performance

NASDAQ:FIBK opened at $36.13 on Wednesday. The firm has a market cap of $3.51 billion, a P/E ratio of 11.77 and a beta of 0.77. The stock has a 50 day moving average of $34.28 and a two-hundred day moving average of $34.88. First Interstate BancSystem, Inc. has a 12 month low of $25.81 and a 12 month high of $39.26. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

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 the consensus estimate of $0.60 by $0.01. The business had revenue of $5.10 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.49 EPS. On average, 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 announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Monday, May 11th. First Interstate BancSystem’s 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.