First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Purchased by Creative Planning

Creative Planning lifted its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 23.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,033 shares of the financial services provider’s stock after purchasing an additional 5,618 shares during the quarter. Creative Planning’s holdings in First Interstate BancSystem were worth $921,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Procyon Advisors LLC acquired a new position in shares of First Interstate BancSystem in the 3rd quarter valued at $358,000. Inspire Investing LLC raised its stake in shares of First Interstate BancSystem by 5.3% in the 3rd quarter. Inspire Investing LLC now owns 13,422 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 673 shares in the last quarter. CWM LLC raised its stake in shares of First Interstate BancSystem by 65.0% in the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 2,029 shares in the last quarter. Algert Global LLC bought a new position in shares of First Interstate BancSystem in the 2nd quarter valued at approximately $261,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of First Interstate BancSystem by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock valued at $1,370,000 after acquiring an additional 598 shares in the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Stock Down 0.1 %

FIBK stock opened at $30.78 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $3.22 billion, a P/E ratio of 13.50 and a beta of 0.81. The business has a 50-day moving average of $30.64 and a 200-day moving average of $28.81. First Interstate BancSystem, Inc. has a fifty-two week low of $22.89 and a fifty-two week high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 17.22% and a return on equity of 7.57%. During the same period last year, the firm earned $0.70 EPS. On average, sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.29 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 6.11%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 82.46%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. DA Davidson boosted their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods boosted their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Barclays downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $32.00 to $30.00 in a research report on Thursday. Finally, Wells Fargo & Company downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $30.00 to $28.00 in a report on Tuesday, October 1st. 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 stock. According to MarketBeat.com, First Interstate BancSystem has a consensus rating of “Hold” and an average target price of $32.50.

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.