First Interstate BancSystem, Inc. $FIBK Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP increased its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 84.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 30,981 shares of the financial services provider’s stock after acquiring an additional 14,166 shares during the period. Quantinno Capital Management LP’s holdings in First Interstate BancSystem were worth $1,035,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System purchased a new stake in shares of First Interstate BancSystem in the 1st quarter valued at approximately $1,303,000. State of Alaska Department of Revenue boosted its position in shares of First Interstate BancSystem by 1,104.9% during the 4th quarter. State of Alaska Department of Revenue now owns 49,857 shares of the financial services provider’s stock worth $1,724,000 after purchasing an additional 45,719 shares during the period. Hsbc Holdings PLC purchased a new position in shares of First Interstate BancSystem during the 4th quarter worth approximately $2,127,000. SG Americas Securities LLC increased its holdings in First Interstate BancSystem by 43.5% in the 1st quarter. SG Americas Securities LLC now owns 108,497 shares of the financial services provider’s stock valued at $3,624,000 after purchasing an additional 32,914 shares during the last quarter. Finally, Villere ST Denis J & Co. LLC raised its position in First Interstate BancSystem by 15.1% in the first quarter. Villere ST Denis J & Co. LLC now owns 627,031 shares of the financial services provider’s stock valued at $20,943,000 after purchasing an additional 82,117 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

Insiders Place Their Bets

In related 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Jonathan R. Scott sold 12,892 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $35.58, for a total transaction of $458,697.36. Following the sale, the insider owned 866,628 shares in the company, valued at $30,834,624.24. The trade was a 1.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over 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 company insiders.

Analyst Ratings Changes

FIBK has been the topic of a number of research reports. Barclays cut First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $38.00 to $37.00 in a research note on Monday, August 3rd. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $34.00 price objective (down from $36.00) on shares of First Interstate BancSystem in a research note on Monday, August 10th. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Monday, June 22nd. UBS Group increased their target price 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, Weiss Ratings upgraded First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, First Interstate BancSystem presently has an average rating of “Reduce” and a consensus price target of $36.83.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $39.17 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of 12.05 and a beta of 0.76. First Interstate BancSystem, Inc. has a 52-week low of $29.10 and a 52-week high of $40.60. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $38.04 and its two-hundred day moving average is $36.14.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.69 by $0.18. The business had revenue of $263.90 million during the quarter, compared to the consensus estimate of $249.32 million. First Interstate BancSystem had a net margin of 23.63% and a return on equity of 9.55%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, research analysts expect that First Interstate BancSystem, Inc. will post 2.84 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Tuesday, August 4th were issued a $0.47 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.88 dividend on an annualized basis and a yield of 4.8%. First Interstate BancSystem’s dividend payout ratio (DPR) is 57.85%.

First Interstate BancSystem Company 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.