Ashton Thomas Private Wealth LLC Has $2.21 Million Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Ashton Thomas Private Wealth LLC decreased its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 13.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,564 shares of the financial services provider’s stock after selling 11,922 shares during the quarter. Ashton Thomas Private Wealth LLC owned 0.08% of First Interstate BancSystem worth $2,210,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FIBK. Victory Capital Management Inc. raised its stake in First Interstate BancSystem by 22.3% during the fourth quarter. Victory Capital Management Inc. now owns 347,922 shares of the financial services provider’s stock worth $10,699,000 after acquiring an additional 63,486 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in First Interstate BancSystem by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 931,047 shares of the financial services provider’s stock worth $28,630,000 after acquiring an additional 42,580 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of First Interstate BancSystem by 20.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,590,707 shares of the financial services provider’s stock valued at $110,418,000 after buying an additional 620,682 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of First Interstate BancSystem by 0.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,914,730 shares of the financial services provider’s stock valued at $58,878,000 after buying an additional 6,436 shares during the period. Finally, Norges Bank acquired a new position in shares of First Interstate BancSystem in the fourth quarter valued at approximately $26,584,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FIBK. Wells Fargo & Company upped their price objective on First Interstate BancSystem from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of First Interstate BancSystem in a research note on Monday, August 26th. DA Davidson upped their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, Barclays upped their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus target price of $33.33.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK opened at $29.68 on Tuesday. The company has a market capitalization of $3.10 billion, a PE ratio of 11.86 and a beta of 0.82. The company has a 50 day simple moving average of $29.68 and a two-hundred day simple moving average of $27.58. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.79 and a current ratio of 0.79. First Interstate BancSystem, Inc. has a fifty-two week low of $20.81 and a fifty-two week high of $33.00.

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

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date was Monday, August 5th. First Interstate BancSystem’s payout ratio is 74.90%.

About First Interstate BancSystem

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.