Thrivent Financial for Lutherans Has $1.75 Million Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Thrivent Financial for Lutherans lowered its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 19.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,941 shares of the financial services provider’s stock after selling 13,920 shares during the quarter. Thrivent Financial for Lutherans owned 0.05% of First Interstate BancSystem worth $1,747,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FIBK. CWM LLC lifted its position in shares of First Interstate BancSystem by 16.0% in the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 430 shares in the last quarter. Innealta Capital LLC bought a new stake in First Interstate BancSystem during the 2nd quarter worth about $106,000. nVerses Capital LLC boosted its stake in shares of First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after buying an additional 3,300 shares during the last quarter. Telos Capital Management Inc. acquired a new position in shares of First Interstate BancSystem during the 3rd quarter worth about $201,000. Finally, Washington Trust Bank bought a new position in shares of First Interstate BancSystem in the 2nd quarter valued at about $204,000. 88.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FIBK. Stephens reissued an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Wells Fargo & Company cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $30.00 to $28.00 in a research note on Tuesday, October 1st. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $32.00 to $30.00 in a research note on Thursday, October 31st. Finally, Piper Sandler dropped their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and a consensus target price of $33.83.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction 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 transaction, the director now owns 958,710 shares in the company, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Julie A. Scott sold 22,050 shares of the company’s stock in a transaction 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 sale, the insider now owns 613,019 shares of the company’s stock, valued at approximately $20,720,042.20. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,837 shares of company stock worth $1,839,583 in the last 90 days. Company insiders own 6.90% of the company’s stock.

First Interstate BancSystem Stock Performance

NASDAQ FIBK opened at $34.97 on Friday. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.77. The stock has a market cap of $3.66 billion, a PE ratio of 15.34 and a beta of 0.81. The firm has a 50-day moving average of $31.93 and a 200-day moving average of $29.77. 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 (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter last year, the company earned $0.70 EPS. On average, sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem’s dividend payout ratio is 82.46%.

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.