Captrust Financial Advisors Invests $208,000 in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Captrust Financial Advisors bought a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,421 shares of the financial services provider’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of First Interstate BancSystem in the 4th quarter worth about $69,000. Covestor Ltd raised its holdings in First Interstate BancSystem by 25.8% in the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock worth $81,000 after buying an additional 510 shares during the last quarter. Sterling Capital Management LLC raised its holdings in First Interstate BancSystem by 826.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider’s stock worth $81,000 after buying an additional 2,231 shares during the last quarter. KBC Group NV raised its holdings in First Interstate BancSystem by 34.1% in the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock worth $130,000 after buying an additional 1,022 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new position in First Interstate BancSystem in the fourth quarter worth about $241,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on FIBK shares. Wall Street Zen raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Saturday, May 10th. Stephens decreased their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st. DA Davidson reaffirmed a “buy” rating and issued a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. Wells Fargo & Company decreased their target price on shares of First Interstate BancSystem from $30.00 to $25.00 and set an “underweight” rating for the company in a report on Wednesday, April 9th. Finally, Piper Sandler decreased their target price on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.00.

First Interstate BancSystem Stock Up 0.2%

FIBK opened at $26.47 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average price of $27.05 and a 200-day moving average price of $30.56. First Interstate BancSystem, Inc. has a twelve month low of $22.95 and a twelve month high of $36.77. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 12.09 and a beta of 0.76.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The company had revenue of $42.00 million for the quarter, compared to analysts’ expectations of $253.50 million. During the same period in the previous year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.88 annualized dividend and a dividend yield of 7.10%. First Interstate BancSystem’s payout ratio is 89.10%.

First Interstate BancSystem 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.