D.A. Davidson & CO. Purchases 1,195 Shares of First Interstate BancSystem, Inc. $FIBK

D.A. Davidson & CO. boosted its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 4.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,313 shares of the financial services provider’s stock after purchasing an additional 1,195 shares during the period. D.A. Davidson & CO.’s holdings in First Interstate BancSystem were worth $902,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JNBA Financial Advisors purchased a new position in shares of First Interstate BancSystem in the 1st quarter worth approximately $29,000. GAMMA Investing LLC lifted its holdings in First Interstate BancSystem by 186.5% during the second quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 647 shares during the period. Quarry LP lifted its holdings in First Interstate BancSystem by 63.8% during the first quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 450 shares during the period. KBC Group NV increased its position in shares of First Interstate BancSystem by 26.4% during the 1st quarter. KBC Group NV now owns 5,079 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of First Interstate BancSystem during the 2nd quarter valued at $186,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

NASDAQ FIBK opened at $32.26 on Wednesday. The company’s 50 day moving average is $31.98 and its 200-day moving average is $29.55. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.38 billion, a P/E ratio of 14.53 and a beta of 0.79.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.12. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 6.82%. The company had revenue of $248.30 million for the quarter, compared to analyst estimates of $253.73 million. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

Insider Transactions at First Interstate BancSystem

In other news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $27.86, for a total value of $1,532,300.00. Following the completion of the transaction, the insider directly owned 529,256 shares of the company’s stock, valued at $14,745,072.16. This trade represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John M. Heyneman, Jr. sold 11,818 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $30.18, for a total value of $356,667.24. Following the completion of the transaction, the director directly owned 5,224 shares of the company’s stock, valued at $157,660.32. The trade was a 69.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 96,818 shares of company stock valued at $2,845,925 over the last three months. Company insiders own 8.20% of the company’s stock.

Wall Street Analyst Weigh In

FIBK has been the subject of several research analyst reports. Barclays raised their target price on First Interstate BancSystem from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. DA Davidson boosted their target price on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Wall Street Zen cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Monday, August 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Wednesday, October 8th. Finally, Wells Fargo & Company raised their target price on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.43.

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.