Eagle Asset Management Inc. Has $10.31 Million Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Eagle Asset Management Inc. raised its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.2% in the 3rd quarter, Holdings Channel reports. The firm owned 314,625 shares of the financial services provider’s stock after buying an additional 9,795 shares during the period. Eagle Asset Management Inc.’s holdings in First Interstate BancSystem were worth $10,310,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in shares of First Interstate BancSystem by 28.5% in the 1st quarter. Russell Investments Group Ltd. now owns 44,410 shares of the financial services provider’s stock valued at $1,209,000 after buying an additional 9,860 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of First Interstate BancSystem by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 51,919 shares of the financial services provider’s stock worth $1,413,000 after acquiring an additional 2,940 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of First Interstate BancSystem during the first quarter worth about $286,000. CWM LLC lifted its holdings in shares of First Interstate BancSystem by 16.0% during the 2nd 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. Finally, SG Americas Securities LLC grew its position in shares of First Interstate BancSystem by 79.5% in the 2nd quarter. SG Americas Securities LLC now owns 18,021 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 7,979 shares during the period. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Trading Up 1.7 %

Shares of First Interstate BancSystem stock opened at $34.39 on Friday. The stock has a market cap of $3.59 billion, a P/E ratio of 15.08 and a beta of 0.81. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 12-month low of $24.16 and a 12-month high of $34.61. The business’s 50 day moving average is $31.51 and its 200-day moving average is $29.51.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results 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 period last year, the company posted $0.70 EPS. Equities research analysts predict that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.47%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem’s payout ratio is 82.46%.

Analysts Set New Price Targets

Several analysts have commented on the stock. DA Davidson raised their target price on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Barclays cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $32.00 to $30.00 in a research report on Thursday, October 31st. Wells Fargo & Company cut First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $30.00 to $28.00 in a report on Tuesday, October 1st. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.50.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 20,220 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 635,069 shares of the company’s stock, valued at $20,817,561.82. This represents a 3.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction on 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 of the company’s stock, valued at $32,768,707.80. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,770 shares of company stock worth $1,630,272. 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.