Altus Wealth Group LLC Has $752,000 Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Altus Wealth Group LLC lifted its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 21.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,512 shares of the financial services provider’s stock after purchasing an additional 4,316 shares during the quarter. Altus Wealth Group LLC’s holdings in First Interstate BancSystem were worth $752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FIBK. CWM LLC grew its stake in First Interstate BancSystem by 16.0% in the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 430 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in First Interstate BancSystem by 28.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 744 shares in the last quarter. Innealta Capital LLC bought a new position in First Interstate BancSystem in the second quarter valued at approximately $106,000. nVerses Capital LLC grew its stake in First Interstate BancSystem by 412.5% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Telos Capital Management Inc. bought a new position in First Interstate BancSystem in the third quarter valued at approximately $201,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FIBK. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Piper Sandler restated an “overweight” rating and issued a $38.00 price target on shares of First Interstate BancSystem in a research note on Monday, August 26th. Stephens reiterated an “overweight” rating and set a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, Barclays lifted their target price on First Interstate BancSystem from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, First Interstate BancSystem has a consensus rating of “Hold” and an average price target of $33.17.

First Interstate BancSystem Price Performance

NASDAQ FIBK traded up $0.10 during midday trading on Wednesday, hitting $31.70. The company had a trading volume of 36,650 shares, compared to its average volume of 675,252. The company has a market capitalization of $3.31 billion, a PE ratio of 12.59 and a beta of 0.81. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $30.29 and a 200-day moving average price of $28.53. First Interstate BancSystem, Inc. has a twelve month low of $20.81 and a twelve month high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $244.30 million during the quarter, compared to analysts’ expectations of $246.07 million. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, analysts anticipate that First Interstate BancSystem, Inc. will post 2.34 earnings per share for the current fiscal year.

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.