First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,861 shares of the financial services provider’s stock after selling 3,027 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of First Interstate BancSystem worth $1,968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of First Interstate BancSystem by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock worth $282,303,000 after buying an additional 533,293 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in First Interstate BancSystem by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock valued at $127,204,000 after acquiring an additional 367,212 shares during the last quarter. Wellington Management Group LLP grew its holdings in First Interstate BancSystem by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 2,970,727 shares of the financial services provider’s stock worth $91,350,000 after acquiring an additional 142,069 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of First Interstate BancSystem by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider’s stock worth $56,974,000 after purchasing an additional 32,348 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of First Interstate BancSystem by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 887,559 shares of the financial services provider’s stock valued at $24,648,000 after purchasing an additional 11,493 shares in the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $29.54 on Wednesday. The business’s 50-day moving average is $30.03 and its 200-day moving average is $28.02. 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 company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 11.77 and a beta of 0.82. First Interstate BancSystem, Inc. has a fifty-two week low of $20.81 and a fifty-two week high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. The firm had revenue of $244.30 million during the quarter, compared to analysts’ expectations of $246.07 million. During the same quarter last year, the firm earned $0.66 earnings per share. Equities research analysts expect that First Interstate BancSystem, Inc. will post 2.34 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.88 annualized dividend and a dividend yield of 6.36%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 74.90%.

Wall Street Analysts Forecast Growth

FIBK has been the subject of several research reports. Keefe, Bruyette & Woods lifted their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. DA Davidson lifted their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Stephens increased their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Barclays lifted their price target on shares of First Interstate BancSystem from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Finally, StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.17.

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.