Victory Capital Management Inc. Sells 27,030 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Victory Capital Management Inc. lowered its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 309,924 shares of the financial services provider’s stock after selling 27,030 shares during the quarter. Victory Capital Management Inc. owned 0.30% of First Interstate BancSystem worth $9,508,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of FIBK. CWM LLC lifted its position in First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 430 shares during the last quarter. Innealta Capital LLC bought a new position in First Interstate BancSystem during the second quarter valued at $106,000. nVerses Capital LLC lifted its position in First Interstate BancSystem by 412.5% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,300 shares during the last quarter. Telos Capital Management Inc. bought a new position in First Interstate BancSystem during the third quarter valued at $201,000. Finally, Washington Trust Bank bought a new position in First Interstate BancSystem during the second quarter valued at $204,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Trading Up 1.7 %

FIBK stock opened at $33.96 on Friday. The company has a market capitalization of $3.55 billion, a PE ratio of 14.64 and a beta of 0.81. First Interstate BancSystem, Inc. has a 12 month low of $24.16 and a 12 month high of $34.53. The firm’s 50-day moving average is $31.33 and its 200 day moving average is $29.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter in the previous year, the company posted $0.70 EPS. On average, research analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem’s dividend payout ratio (DPR) is 82.46%.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 22,050 shares of First Interstate BancSystem stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total value of $745,290.00. Following the transaction, the insider now owns 613,019 shares of the company’s stock, valued at $20,720,042.20. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the transaction, the director now directly owns 958,710 shares in the company, valued at approximately $32,768,707.80. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,770 shares of company stock valued at $1,630,272. Company insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $30.00 to $28.00 in a report on Tuesday, October 1st. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $32.00 to $30.00 in a report on Thursday, October 31st. DA Davidson raised their target price on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.50.

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.