Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 77,000 First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 77,000 shares of the financial services provider’s stock, valued at approximately $2,362,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FIBK. CWM LLC increased its position in First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 430 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of First Interstate BancSystem during the 2nd quarter worth approximately $106,000. nVerses Capital LLC raised its position in shares of 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 valued at $114,000 after buying an additional 3,300 shares during the period. Telos Capital Management Inc. acquired a new position in First Interstate BancSystem in the third quarter valued at approximately $201,000. Finally, Washington Trust Bank purchased a new position in First Interstate BancSystem in the second quarter worth approximately $204,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $30.00 to $28.00 in a research note on Tuesday, October 1st. Stephens reaffirmed an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Thursday. Piper Sandler reduced their price target on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, Barclays cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $32.00 to $30.00 in a research report 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.83.

Insider Activity

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the sale, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of the company’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 transaction, the director now directly owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, 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 Trading Down 1.1 %

NASDAQ FIBK opened at $34.97 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 15.34 and a beta of 0.81. The firm has a 50 day simple moving average of $31.93 and a 200-day simple moving average of $29.79. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate 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 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend was Monday, November 4th. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

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.