Signaturefd LLC Buys 2,322 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Signaturefd LLC lifted its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 59.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,208 shares of the financial services provider’s stock after purchasing an additional 2,322 shares during the quarter. Signaturefd LLC’s holdings in First Interstate BancSystem were worth $191,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of First Interstate BancSystem by 0.4% during the third quarter. FMR LLC now owns 6,451,758 shares of the financial services provider’s stock valued at $160,907,000 after buying an additional 28,343 shares during the period. Wellington Management Group LLP grew its position in shares of First Interstate BancSystem by 11.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,828,658 shares of the financial services provider’s stock valued at $70,547,000 after purchasing an additional 286,160 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of First Interstate BancSystem by 4.1% in the third quarter. American Century Companies Inc. now owns 2,224,365 shares of the financial services provider’s stock worth $55,476,000 after purchasing an additional 87,039 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of First Interstate BancSystem by 0.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,908,294 shares of the financial services provider’s stock worth $47,593,000 after buying an additional 13,830 shares in the last quarter. Finally, Jennison Associates LLC grew its position in First Interstate BancSystem by 93.4% during the third quarter. Jennison Associates LLC now owns 1,426,641 shares of the financial services provider’s stock worth $35,580,000 after buying an additional 688,906 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 0.2 %

Shares of NASDAQ FIBK opened at $27.00 on Friday. The firm’s fifty day moving average is $26.10 and its 200 day moving average is $26.70. First Interstate BancSystem, Inc. has a 52 week low of $20.81 and a 52 week high of $32.54. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 10.76 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The business 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 8.55%. On average, equities research analysts expect that First Interstate BancSystem, Inc. will post 2.17 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 6.96%. First Interstate BancSystem’s dividend payout ratio is presently 74.90%.

Wall Street Analyst Weigh In

FIBK has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on First Interstate BancSystem from $28.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday. Barclays lifted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday. TheStreet lowered shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. Stephens reaffirmed an “overweight” rating and set a $32.00 price objective on shares of First Interstate BancSystem in a report on Thursday. Finally, Wells Fargo & Company increased their target price on First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $29.20.

Insider Buying and Selling at First Interstate BancSystem

In other news, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 of the company’s stock, valued at $551,229.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the completion of the sale, the executive vice president now owns 20,599 shares of the company’s stock, valued at $551,229.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lorrie F. Asker sold 1,921 shares of First Interstate BancSystem stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the sale, the insider now owns 6,909 shares in the company, valued at approximately $179,979.45. The disclosure for this sale can be found here. Insiders sold 7,531 shares of company stock valued at $197,645 in the last 90 days. Insiders own 6.90% of the company’s stock.

About First Interstate BancSystem

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.