Cwm LLC Acquires 921 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Cwm LLC boosted its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 129.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,631 shares of the financial services provider’s stock after acquiring an additional 921 shares during the quarter. Cwm LLC’s holdings in First Interstate BancSystem were worth $39,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Stockman Wealth Management Inc. grew its holdings in First Interstate BancSystem by 13.8% during the 2nd quarter. Stockman Wealth Management Inc. now owns 98,557 shares of the financial services provider’s stock valued at $2,350,000 after purchasing an additional 11,960 shares during the last quarter. Bank of Montreal Can bought a new position in First Interstate BancSystem during the 2nd quarter valued at about $1,077,000. State of New Jersey Common Pension Fund D grew its holdings in First Interstate BancSystem by 68.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 108,654 shares of the financial services provider’s stock valued at $2,590,000 after purchasing an additional 44,006 shares during the last quarter. Signaturefd LLC grew its holdings in First Interstate BancSystem by 54.6% during the 2nd quarter. Signaturefd LLC now owns 3,186 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 1,125 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in First Interstate BancSystem by 20.3% during the 2nd quarter. LPL Financial LLC now owns 12,655 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 2,133 shares during the last quarter. 78.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FIBK has been the topic of several analyst reports. Wells Fargo & Company reiterated an “equal weight” rating on shares of First Interstate BancSystem in a report on Wednesday, October 4th. Piper Sandler lowered their price target on shares of First Interstate BancSystem from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. Finally, StockNews.com began coverage on shares of First Interstate BancSystem in a research report on Thursday, October 5th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 8,072 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $24.96, for a total transaction of $201,477.12. Following the transaction, the insider now owns 1,215,028 shares in the company, valued at approximately $30,327,098.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 8,072 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $24.96, for a total transaction of $201,477.12. Following the transaction, the insider now owns 1,215,028 shares in the company, valued at approximately $30,327,098.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Julie A. Scott sold 13,400 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $23.35, for a total transaction of $312,890.00. Following the transaction, the insider now owns 1,169,700 shares in the company, valued at approximately $27,312,495. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,472 shares of company stock worth $2,110,447. 6.80% of the stock is owned by corporate insiders.

First Interstate BancSystem Trading Down 0.0 %

NASDAQ FIBK opened at $23.31 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.45 billion, a PE ratio of 8.60 and a beta of 0.87. The company has a 50 day moving average price of $24.21 and a 200 day moving average price of $24.85. First Interstate BancSystem, Inc. has a 52 week low of $20.81 and a 52 week high of $46.08.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. First Interstate BancSystem had a net margin of 20.07% and a return on equity of 9.22%. During the same quarter last year, the firm posted $1.01 earnings per share. As a group, sell-side analysts forecast that First Interstate BancSystem, Inc. will post 2.6 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 8.07%. First Interstate BancSystem’s payout ratio is 69.37%.

First Interstate BancSystem Company 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.