Envestnet Asset Management Inc. boosted its position in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 65.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 26,491 shares of the financial services provider’s stock after acquiring an additional 10,512 shares during the period. Envestnet Asset Management Inc.’s holdings in First Interstate Bancsystem were worth $1,049,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in FIBK. Stephens Inc. AR bought a new stake in shares of First Interstate Bancsystem during the first quarter valued at about $205,000. Virginia Retirement Systems ET AL bought a new stake in shares of First Interstate Bancsystem during the second quarter valued at about $701,000. Kennedy Capital Management Inc. increased its position in shares of First Interstate Bancsystem by 10.1% during the first quarter. Kennedy Capital Management Inc. now owns 488,462 shares of the financial services provider’s stock valued at $19,451,000 after buying an additional 44,803 shares during the period. Boston Partners bought a new stake in shares of First Interstate Bancsystem during the first quarter valued at about $3,993,000. Finally, Burney Co. increased its position in shares of First Interstate Bancsystem by 5.6% during the first quarter. Burney Co. now owns 184,227 shares of the financial services provider’s stock valued at $7,336,000 after buying an additional 9,763 shares during the period. Institutional investors and hedge funds own 49.15% of the company’s stock.
FIBK traded up $0.25 during midday trading on Friday, hitting $40.77. The stock had a trading volume of 118,240 shares, compared to its average volume of 164,112. The company has a market cap of $2.61 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.45 and a beta of 1.19. The business has a fifty day moving average of $38.99 and a 200 day moving average of $39.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.82 and a current ratio of 0.82. First Interstate Bancsystem Inc has a 1 year low of $34.61 and a 1 year high of $46.85.
First Interstate Bancsystem (NASDAQ:FIBK) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.02). The firm had revenue of $164.70 million during the quarter, compared to analysts’ expectations of $163.66 million. First Interstate Bancsystem had a return on equity of 10.24% and a net margin of 24.08%. On average, equities research analysts anticipate that First Interstate Bancsystem Inc will post 3.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Thursday, August 8th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Wednesday, August 7th. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.20. First Interstate Bancsystem’s dividend payout ratio is 42.47%.
Several research analysts have recently commented on FIBK shares. BidaskClub lowered First Interstate Bancsystem from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. ValuEngine lowered First Interstate Bancsystem from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research raised First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.98.
In related news, Director Ross E. Leckie sold 1,219 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $39.27, for a total transaction of $47,870.13. Following the completion of the transaction, the director now owns 17,027 shares in the company, valued at $668,650.29. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ross E. Leckie sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.60, for a total value of $121,800.00. Following the transaction, the director now owns 14,027 shares of the company’s stock, valued at approximately $569,496.20. The disclosure for this sale can be found here. Corporate insiders own 24.93% of the company’s stock.
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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.
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