6,774 Shares in First Interstate BancSystem, Inc. (NASDAQ:FIBK) Purchased by FourThought Financial Partners LLC

FourThought Financial Partners LLC purchased a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the fourth quarter, Holdings Channel reports. The fund purchased 6,774 shares of the financial services provider’s stock, valued at approximately $208,000.

Other hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC boosted its stake in First Interstate BancSystem by 132.8% in the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 530 shares during the period. Wolverine Asset Management LLC acquired a new position in First Interstate BancSystem in the fourth quarter valued at approximately $39,000. CWM LLC boosted its stake in First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 702 shares during the period. Headlands Technologies LLC acquired a new position in First Interstate BancSystem in the third quarter valued at approximately $81,000. Finally, Signaturefd LLC boosted its stake in First Interstate BancSystem by 22.0% in the third quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 700 shares during the period. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on FIBK. Wells Fargo & Company boosted their price objective on First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Stephens reiterated an “overweight” rating and set a $32.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, April 25th. Piper Sandler boosted their price objective on First Interstate BancSystem from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Barclays boosted their price objective on First Interstate BancSystem from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, TheStreet cut First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.20.

First Interstate BancSystem Trading Up 1.0 %

NASDAQ FIBK traded up $0.28 on Monday, hitting $27.92. 143,796 shares of the stock were exchanged, compared to its average volume of 812,830. The company’s 50-day moving average price is $26.19 and its two-hundred day moving average price is $26.84. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76. First Interstate BancSystem, Inc. has a 52-week low of $20.81 and a 52-week high of $32.54. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 11.01 and a beta of 0.85.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.73%. The ex-dividend date is Friday, May 3rd. First Interstate BancSystem’s dividend payout ratio is currently 74.90%.

Insider Buying and Selling

In related news, insider Lorrie F. Asker sold 1,921 shares of the company’s stock in a transaction 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 in the company, valued at $179,979.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other First Interstate BancSystem news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the transaction, the insider now owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,531 shares of company stock worth $197,645. Corporate insiders own 6.90% of the company’s stock.

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.