US Bancorp DE Decreases Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

US Bancorp DE lowered its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 44.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,915 shares of the financial services provider’s stock after selling 5,601 shares during the period. US Bancorp DE’s holdings in First Interstate BancSystem were worth $212,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. CWM LLC increased its holdings in First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 430 shares during the last quarter. Innealta Capital LLC bought a new position in First Interstate BancSystem in the second quarter worth about $106,000. nVerses Capital LLC raised its position 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 purchasing an additional 3,300 shares during the period. Telos Capital Management Inc. bought a new stake in shares of First Interstate BancSystem in the 3rd quarter worth approximately $201,000. Finally, Washington Trust Bank acquired a new stake in First Interstate BancSystem in the second quarter worth $204,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 6,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the transaction, the director now owns 958,710 shares of the company’s stock, valued at $32,768,707.80. The trade was 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 20,220 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the sale, the insider now directly owns 635,069 shares in the company, valued at $20,817,561.82. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,320 shares of company stock valued at $1,647,096 over the last three months. 6.90% of the stock is currently owned by insiders.

First Interstate BancSystem Trading Down 0.7 %

First Interstate BancSystem stock opened at $33.28 on Friday. The company has a 50 day moving average price of $30.94 and a 200 day moving average price of $29.22. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 14.77 and a beta of 0.81. 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 52 week low of $24.16 and a 52 week high of $34.53.

First Interstate BancSystem (NASDAQ:FIBK) last posted 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 15.94% and a return on equity of 7.48%. During the same quarter in the previous year, the firm earned $0.70 EPS. Research analysts forecast that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.65%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem’s payout ratio is presently 82.46%.

Analyst Ratings Changes

Several research firms have recently commented on FIBK. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods raised their target price on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research note 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 research note on Monday, July 29th. Piper Sandler decreased their price target on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Two investment 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, First Interstate BancSystem has a consensus rating of “Hold” and an average price target of $32.50.

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.