First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 26.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,691 shares of the financial services provider’s stock after acquiring an additional 32,102 shares during the period. Wedge Capital Management L L P NC owned 0.15% of First Interstate BancSystem worth $4,726,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC raised its holdings in shares of First Interstate BancSystem by 132.8% during the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the period. CWM LLC grew its position in shares of First Interstate BancSystem by 42.1% during the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 702 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of First Interstate BancSystem during the third quarter worth about $81,000. Signaturefd LLC grew its position in shares of First Interstate BancSystem by 22.0% during the third quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 700 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of First Interstate BancSystem by 99.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,870 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 2,430 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FIBK shares. TheStreet lowered shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Wells Fargo & Company raised their price objective on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Finally, Barclays started coverage on shares of First Interstate BancSystem in a research report on Friday, March 8th. They set an “equal weight” rating and a $28.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.00.

First Interstate BancSystem Price Performance

FIBK stock opened at $26.57 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89. First Interstate BancSystem, Inc. has a one year low of $20.81 and a one year high of $32.54. The firm has a market capitalization of $2.76 billion, a PE ratio of 10.71 and a beta of 0.87. The firm has a 50-day moving average of $26.08 and a two-hundred day moving average of $26.66.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.47%. The company had revenue of $252.30 million during the quarter, compared to analyst estimates of $254.50 million. On average, analysts forecast that First Interstate BancSystem, Inc. will post 2.17 earnings per share for the current year.

First Interstate BancSystem Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 19th. Shareholders of record on Friday, February 9th were paid a dividend of $0.47 per share. The ex-dividend date was Thursday, February 8th. This is a positive change from First Interstate BancSystem’s previous quarterly dividend of $0.20. This represents a $1.88 dividend on an annualized basis and a yield of 7.08%. First Interstate BancSystem’s dividend payout ratio is currently 75.81%.

Insider Transactions at First Interstate BancSystem

In other news, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the sale, the insider now directly owns 6,909 shares of the company’s stock, valued at $179,979.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the sale, the insider now directly owns 6,909 shares of the company’s stock, valued at $179,979.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total transaction of $69,999.30. Following the completion of the sale, the executive vice president now directly owns 9,047 shares of the company’s stock, valued at $233,684.01. The disclosure for this sale can be found here. Insiders sold 7,531 shares of company stock valued at $197,645 over the last three months. 6.90% of the stock is owned by corporate insiders.

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.