Cladis Investment Advisory LLC Has $3.02 Million Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Cladis Investment Advisory LLC lessened its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,453 shares of the financial services provider’s stock after selling 1,955 shares during the period. First Interstate BancSystem comprises approximately 2.1% of Cladis Investment Advisory LLC’s holdings, making the stock its 7th biggest holding. Cladis Investment Advisory LLC owned about 0.09% of First Interstate BancSystem worth $3,021,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in First Interstate BancSystem during the 3rd quarter valued at $69,000. CWM LLC increased its stake in shares of 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 buying an additional 430 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of First Interstate BancSystem in the second quarter valued at $106,000. nVerses Capital LLC lifted its position in First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after buying an additional 3,300 shares in the last quarter. Finally, Telos Capital Management Inc. acquired a new position in First Interstate BancSystem during the 3rd quarter worth about $201,000. Institutional investors own 88.71% of the company’s stock.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the completion of the transaction, the insider now directly owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the sale, the director now directly owns 958,710 shares in the company, valued at approximately $32,768,707.80. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,837 shares of company stock worth $1,839,583. 6.90% of the stock is currently owned by company insiders.

First Interstate BancSystem Stock Performance

FIBK stock opened at $34.97 on Monday. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a market cap of $3.66 billion, a P/E ratio of 15.34 and a beta of 0.81. The business’s fifty day moving average is $31.93 and its 200-day moving average is $29.80.

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

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend was Monday, November 4th. First Interstate BancSystem’s payout ratio is 82.46%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FIBK shares. Wells Fargo & Company downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. DA Davidson raised shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and raised their price target for the company from $32.00 to $42.00 in a report on Tuesday, November 26th. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Thursday. Stephens reissued an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Finally, Barclays lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $32.00 to $30.00 in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and an average price target of $33.83.

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.