25,921 Shares in First Interstate BancSystem, Inc. (NASDAQ:FIBK) Acquired by Sciencast Management LP

Sciencast Management LP purchased a new stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 25,921 shares of the financial services provider’s stock, valued at approximately $705,000.

Several other institutional investors have also recently made changes to their positions in FIBK. Caprock Group LLC lifted its holdings in shares of First Interstate BancSystem by 1.8% during the 1st quarter. Caprock Group LLC now owns 25,251 shares of the financial services provider’s stock worth $687,000 after acquiring an additional 437 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of First Interstate BancSystem by 132.8% in the 4th 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 in the last quarter. CWM LLC increased its position in shares of First Interstate BancSystem by 42.1% during the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 702 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of First Interstate BancSystem by 28.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock valued at $104,000 after buying an additional 744 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in First Interstate BancSystem by 205.3% in the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after buying an additional 856 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK traded down $0.08 during trading hours on Friday, reaching $29.17. The company had a trading volume of 727,542 shares, compared to its average volume of 735,584. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $3.05 billion, a PE ratio of 11.62 and a beta of 0.82. The business’s 50 day moving average price is $27.00 and its 200-day moving average price is $27.12. First Interstate BancSystem, Inc. has a 1-year low of $20.81 and a 1-year high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. First Interstate BancSystem had a return on equity of 8.51% and a net margin of 17.76%. The firm had revenue of $242.20 million for the quarter, compared to analysts’ expectations of $236.80 million. Research analysts forecast that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.44%. The ex-dividend date was Friday, May 3rd. First Interstate BancSystem’s payout ratio is 74.90%.

Insider Activity

In related news, major shareholder Julie A. Scott sold 209,831 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $5,306,625.99. Following the completion of the transaction, the insider now directly owns 879,869 shares of the company’s stock, valued at approximately $22,251,887.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 209,831 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total value of $5,306,625.99. Following the completion of the sale, the insider now owns 879,869 shares in the company, valued at approximately $22,251,887.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan R. Scott sold 29,499 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $746,029.71. Following the transaction, the director now owns 1,021,663 shares in the company, valued at $25,837,857.27. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their price target on First Interstate BancSystem from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Monday, June 24th. Barclays raised their price target on First Interstate BancSystem from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. TheStreet downgraded First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. Finally, Stephens reissued an “overweight” rating and set a $32.00 price target on shares of First Interstate BancSystem in a research report on Monday, June 24th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, First Interstate BancSystem presently has a consensus rating of “Hold” and an average price target of $30.40.

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.