Advisors Asset Management Inc. Has $479,000 Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Advisors Asset Management Inc. lowered its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 37.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,599 shares of the financial services provider’s stock after selling 9,200 shares during the period. Advisors Asset Management Inc.’s holdings in First Interstate BancSystem were worth $479,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of FIBK. Dimensional Fund Advisors LP raised its holdings in shares of 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 worth $127,204,000 after buying an additional 367,212 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of First Interstate BancSystem by 57.3% during the 3rd quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider’s stock worth $27,176,000 after buying an additional 322,578 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in First Interstate BancSystem in the 2nd quarter worth about $3,003,000. Quest Partners LLC increased its holdings in First Interstate BancSystem by 1,115.4% in the 3rd quarter. Quest Partners LLC now owns 82,998 shares of the financial services provider’s stock worth $2,546,000 after purchasing an additional 76,169 shares in the last quarter. Finally, Edgestream Partners L.P. increased its holdings in First Interstate BancSystem by 98.7% in the 2nd quarter. Edgestream Partners L.P. now owns 116,628 shares of the financial services provider’s stock worth $3,239,000 after purchasing an additional 57,938 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays cut First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $32.00 to $30.00 in a report on Thursday, October 31st. Stephens reaffirmed an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a report on Thursday, October 10th. DA Davidson raised First Interstate BancSystem from a “neutral” rating to a “buy” rating and upped their target price for the stock from $32.00 to $42.00 in a report on Tuesday. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Piper Sandler lowered their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Interstate BancSystem currently has a consensus rating of “Hold” and an average price target of $33.83.

First Interstate BancSystem Trading Down 0.2 %

NASDAQ FIBK opened at $35.35 on Thursday. The business’s 50-day moving average price is $31.79 and its two-hundred day moving average price is $29.68. First Interstate BancSystem, Inc. has a 12 month low of $24.16 and a 12 month high of $36.77. The firm has a market capitalization of $3.70 billion, a PE ratio of 15.50 and a beta of 0.81. 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 (NASDAQ:FIBK) last announced its 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 period in the prior year, the business posted $0.70 EPS. On average, analysts expect that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.32%. First Interstate BancSystem’s payout ratio is 82.46%.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the transaction, the director now owns 958,710 shares in the company, valued at approximately $32,768,707.80. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Julie A. Scott sold 20,220 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the transaction, the insider now owns 635,069 shares in the company, valued at approximately $20,817,561.82. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,837 shares of company stock worth $1,839,583 in the last 90 days. Corporate insiders own 6.90% of the company’s stock.

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.