Belpointe Asset Management LLC Invests $58,000 in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Belpointe Asset Management LLC bought a new stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,496 shares of the financial services provider’s stock, valued at approximately $58,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in First Interstate BancSystem by 2.3% in the third quarter. Vanguard Group Inc. now owns 8,723,142 shares of the financial services provider’s stock valued at $351,979,000 after purchasing an additional 192,944 shares during the period. BlackRock Inc. raised its position in shares of First Interstate BancSystem by 61.3% during the 1st quarter. BlackRock Inc. now owns 8,710,578 shares of the financial services provider’s stock worth $320,287,000 after purchasing an additional 3,311,462 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of First Interstate BancSystem by 2.1% during the 2nd quarter. Macquarie Group Ltd. now owns 5,691,848 shares of the financial services provider’s stock worth $216,936,000 after purchasing an additional 118,736 shares during the last quarter. State Street Corp raised its position in shares of First Interstate BancSystem by 152.8% during the 1st quarter. State Street Corp now owns 4,344,413 shares of the financial services provider’s stock worth $159,744,000 after purchasing an additional 2,626,221 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of First Interstate BancSystem by 160.8% during the 1st quarter. Wellington Management Group LLP now owns 2,707,881 shares of the financial services provider’s stock worth $99,569,000 after purchasing an additional 1,669,427 shares during the last quarter. Hedge funds and other institutional investors own 77.78% of the company’s stock.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director Julie A. Scott sold 288,000 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $35.63, for a total value of $10,261,440.00. Following the completion of the transaction, the director now owns 2,517,351 shares in the company, valued at approximately $89,693,216.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Julie A. Scott sold 288,000 shares of the stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $35.63, for a total value of $10,261,440.00. Following the completion of the transaction, the director now directly owns 2,517,351 shares in the company, valued at $89,693,216.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Julie A. Scott sold 62,223 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $23.07, for a total transaction of $1,435,484.61. Following the completion of the transaction, the insider now owns 2,376,851 shares of the company’s stock, valued at $54,833,952.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 481,000 shares of company stock worth $14,734,022. Insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler lowered their target price on shares of First Interstate BancSystem from $45.00 to $35.00 in a research note on Monday, May 1st. Wells Fargo & Company lowered their target price on shares of First Interstate BancSystem from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, April 5th. Keefe, Bruyette & Woods lowered their target price on shares of First Interstate BancSystem from $38.00 to $33.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. StockNews.com assumed coverage on shares of First Interstate BancSystem in a research note on Thursday, May 18th. They set a “sell” rating for the company. Finally, Stephens raised shares of First Interstate BancSystem from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $44.00 to $43.00 in a research note on Wednesday, February 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.40.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock opened at $23.52 on Tuesday. The firm has a market cap of $2.45 billion, a PE ratio of 8.55 and a beta of 0.84. The firm’s 50-day simple moving average is $27.49 and its 200-day simple moving average is $35.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.75 and a current ratio of 0.76. First Interstate BancSystem, Inc. has a 1 year low of $21.03 and a 1 year high of $46.34.

First Interstate BancSystem (NASDAQ:FIBK – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.28). First Interstate BancSystem had a net margin of 22.74% and a return on equity of 11.38%. During the same quarter in the prior year, the company posted $0.21 EPS. Equities analysts forecast that First Interstate BancSystem, Inc. will post 2.85 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 8th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 7.99%. The ex-dividend date of this dividend was Friday, May 5th. First Interstate BancSystem’s dividend payout ratio (DPR) is 68.36%.

First Interstate BancSystem Profile

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First Interstate BancSystem, Inc is a financial holding company, which engages in the provision of community banking solutions. The firm offers commercial and consumer banking services to individuals, businesses, municipalities, and other entities. The company was founded by Homer Scott Sr. in 1968 and is headquartered in Billings, MT.