Wealth Enhancement Advisory Services LLC Raises Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Wealth Enhancement Advisory Services LLC raised its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,324 shares of the financial services provider’s stock after purchasing an additional 1,450 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in First Interstate BancSystem were worth $465,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new stake in First Interstate BancSystem during the 4th quarter valued at approximately $69,000. Covestor Ltd boosted its holdings in shares of First Interstate BancSystem by 25.8% in the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 510 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of 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 acquiring an additional 2,231 shares during the period. Finally, GTS Securities LLC purchased a new position in shares of First Interstate BancSystem during the fourth quarter worth $203,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FIBK shares. Barclays dropped their price objective on shares of First Interstate BancSystem from $31.00 to $28.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Saturday, May 10th. Finally, Wells Fargo & Company cut their price objective 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.00.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $27.45 on Friday. The stock has a market capitalization of $2.88 billion, a P/E ratio of 12.53 and a beta of 0.79. The company’s fifty day moving average price is $26.74 and its 200 day moving average price is $29.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem, Inc. has a 1 year low of $22.95 and a 1 year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). The company had revenue of $42.00 million during the quarter, compared to analyst estimates of $253.50 million. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 EPS. As a group, equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were paid 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 yield of 6.85%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 89.10%.

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.