First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC boosted its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 132.8% in the fourth quarter, HoldingsChannel reports. The firm owned 929 shares of the financial services provider’s stock after buying an additional 530 shares during the period. Global Retirement Partners LLC’s holdings in First Interstate BancSystem were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FIBK. Vanguard Group Inc. increased its holdings in First Interstate BancSystem by 116.2% in the first quarter. Vanguard Group Inc. now owns 7,747,094 shares of the financial services provider’s stock valued at $284,861,000 after buying an additional 4,163,577 shares in the last quarter. BlackRock Inc. increased its holdings in First Interstate BancSystem by 61.3% in the first quarter. BlackRock Inc. now owns 8,710,578 shares of the financial services provider’s stock valued at $320,287,000 after buying an additional 3,311,462 shares in the last quarter. State Street Corp increased its holdings in First Interstate BancSystem by 152.8% in the first quarter. State Street Corp now owns 4,344,413 shares of the financial services provider’s stock valued at $159,744,000 after buying an additional 2,626,221 shares in the last quarter. Wellington Management Group LLP increased its holdings in First Interstate BancSystem by 160.8% in the first quarter. Wellington Management Group LLP now owns 2,707,881 shares of the financial services provider’s stock valued at $99,569,000 after buying an additional 1,669,427 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in First Interstate BancSystem by 5,962.0% in the first quarter. The Manufacturers Life Insurance Company now owns 1,252,657 shares of the financial services provider’s stock valued at $46,060,000 after buying an additional 1,231,993 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

First Interstate BancSystem Stock Up 2.5 %

FIBK stock opened at $27.00 on Wednesday. The stock has a market capitalization of $2.81 billion, a P/E ratio of 10.89 and a beta of 0.87. The firm has a 50-day simple moving average of $26.29 and a 200-day simple moving average of $26.60. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89. First Interstate BancSystem, Inc. has a 52 week low of $20.81 and a 52 week high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.47%. Equities analysts forecast that First Interstate BancSystem, Inc. will post 2.17 earnings per share for the current fiscal year.

First Interstate BancSystem Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 19th. Investors of record on Friday, February 9th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, February 8th. This is a positive change from First Interstate BancSystem’s previous quarterly dividend of $0.20. This represents a $1.88 dividend on an annualized basis and a yield of 6.96%. First Interstate BancSystem’s payout ratio is presently 75.81%.

Analyst Ratings Changes

FIBK has been the subject of a number of recent analyst reports. Barclays began coverage on shares of First Interstate BancSystem in a report on Friday, March 8th. They issued an “equal weight” rating and a $28.00 price objective for the company. TheStreet cut shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.25.

Insider Buying and Selling

In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now directly owns 20,599 shares in the company, valued at $551,229.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the transaction, the insider now directly owns 6,909 shares in the company, valued at $179,979.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the transaction, the executive vice president now owns 20,599 shares in the company, valued at $551,229.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,531 shares of company stock worth $197,645. 6.80% of the stock is owned by insiders.

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.