KLP Kapitalforvaltning AS Takes Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

KLP Kapitalforvaltning AS acquired a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 19,145 shares of the financial services provider’s stock, valued at approximately $622,000.

Other institutional investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in First Interstate BancSystem in the third quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in First Interstate BancSystem during the third quarter valued at $69,000. KBC Group NV raised its stake in shares of First Interstate BancSystem by 34.1% during the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after buying an additional 1,022 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of First Interstate BancSystem in the fourth quarter worth about $241,000. Finally, FourThought Financial Partners LLC purchased a new stake in First Interstate BancSystem in the 4th quarter worth approximately $242,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 1.2 %

Shares of NASDAQ:FIBK opened at $28.72 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77. The company has a market capitalization of $3.00 billion, a PE ratio of 13.11 and a beta of 0.84. The firm has a 50 day simple moving average of $30.68 and a 200-day simple moving average of $31.70.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. On average, equities analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is 85.84%.

Insider Activity at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the transaction, the director now owns 1,414,886 shares of the company’s stock, valued at $46,068,688.16. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FIBK shares. Keefe, Bruyette & Woods lifted their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Stephens dropped their price target on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. DA Davidson reiterated a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 30th. UBS Group assumed coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price objective on the stock. Finally, StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $36.14.

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.