Versor Investments LP Purchases Shares of 29,800 First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Versor Investments LP purchased a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,800 shares of the financial services provider’s stock, valued at approximately $914,000.

A number of other large investors have also modified their holdings of FIBK. BNP Paribas Financial Markets grew its position in First Interstate BancSystem by 235.6% during the 1st quarter. BNP Paribas Financial Markets now owns 78,311 shares of the financial services provider’s stock worth $2,131,000 after purchasing an additional 54,973 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of First Interstate BancSystem during the first quarter valued at $273,000. Swiss National Bank increased its position in shares of First Interstate BancSystem by 6.0% in the 1st quarter. Swiss National Bank now owns 186,546 shares of the financial services provider’s stock valued at $5,076,000 after acquiring an additional 10,600 shares during the period. Sei Investments Co. raised its stake in First Interstate BancSystem by 5.8% in the 1st quarter. Sei Investments Co. now owns 448,158 shares of the financial services provider’s stock worth $12,194,000 after acquiring an additional 24,552 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in First Interstate BancSystem by 4.6% during the 1st quarter. Inspire Investing LLC now owns 13,057 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 570 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

FIBK opened at $33.74 on Wednesday. The firm has a fifty day moving average price of $30.81 and a 200 day moving average price of $29.14. First Interstate BancSystem, Inc. has a 1 year low of $22.89 and a 1 year high of $34.53. The stock has a market cap of $3.53 billion, a P/E ratio of 14.80 and a beta of 0.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.79.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter last year, the company posted $0.70 earnings per share. Equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.57%. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on FIBK shares. Keefe, Bruyette & Woods increased their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Stephens reissued an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research report on Thursday, October 10th. DA Davidson upped their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $32.00 to $30.00 in a research note on Thursday, October 31st. Finally, Piper Sandler decreased their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Two research analysts have 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.50.

Insider Buying and Selling at First Interstate BancSystem

In other news, 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 transaction of $662,811.60. Following the transaction, the insider now owns 635,069 shares in the company, valued at $20,817,561.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Julie A. Scott sold 22,050 shares of First Interstate BancSystem stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the sale, the insider now directly owns 613,019 shares in the company, valued at approximately $20,720,042.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Julie A. Scott sold 20,220 shares of the business’s 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 sale, the insider now owns 635,069 shares of the company’s stock, valued at approximately $20,817,561.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,820 shares of company stock valued at $1,424,926. Company 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.