Insider Buying: First Interstate BancSystem, Inc. (NASDAQ:FIBK) CEO Acquires 15,899 Shares of Stock

First Interstate BancSystem, Inc. (NASDAQ:FIBKGet Rating) CEO Kevin P. Riley acquired 15,899 shares of First Interstate BancSystem stock in a transaction on Wednesday, June 1st. The stock was purchased at an average cost of $37.33 per share, with a total value of $593,509.67. Following the purchase, the chief executive officer now directly owns 92,555 shares of the company’s stock, valued at approximately $3,455,078.15. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

NASDAQ:FIBK traded up $0.58 during trading hours on Thursday, reaching $38.03. The stock had a trading volume of 689,927 shares, compared to its average volume of 892,838. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.70 and a current ratio of 0.71. The stock has a 50 day simple moving average of $35.27 and a 200 day simple moving average of $38.42. First Interstate BancSystem, Inc. has a 12-month low of $32.40 and a 12-month high of $47.54. The stock has a market cap of $4.16 billion, a P/E ratio of 19.51 and a beta of 1.02.

First Interstate BancSystem (NASDAQ:FIBKGet Rating) last released its earnings results on Thursday, April 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.17. First Interstate BancSystem had a return on equity of 7.09% and a net margin of 14.78%. The business had revenue of $227.20 million during the quarter, compared to the consensus estimate of $224.49 million. During the same period last year, the business posted $0.83 earnings per share. On average, equities analysts expect that First Interstate BancSystem, Inc. will post 2.61 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 20th. Shareholders of record on Monday, May 9th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Friday, May 6th. First Interstate BancSystem’s dividend payout ratio is currently 85.42%.

A number of equities research analysts have commented on FIBK shares. Zacks Investment Research cut First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Tuesday. TheStreet lowered First Interstate BancSystem from a “b” rating to a “c” rating in a report on Tuesday. Janney Montgomery Scott upgraded First Interstate BancSystem from a “neutral” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Tuesday, May 3rd. Keefe, Bruyette & Woods upgraded First Interstate BancSystem from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Monday, May 2nd. Finally, StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, First Interstate BancSystem has an average rating of “Buy” and an average price target of $42.75.

Several hedge funds and other institutional investors have recently made changes to their positions in FIBK. Vanguard Group Inc. grew its position in shares of First Interstate BancSystem by 116.2% in the first quarter. Vanguard Group Inc. now owns 7,747,094 shares of the financial services provider’s stock valued at $284,861,000 after purchasing an additional 4,163,577 shares in the last quarter. BlackRock Inc. grew its position in shares of First Interstate BancSystem by 61.3% in the first quarter. BlackRock Inc. now owns 8,710,578 shares of the financial services provider’s stock valued at $320,287,000 after purchasing an additional 3,311,462 shares in the last quarter. River Oaks Capital LLC purchased a new position in shares of First Interstate BancSystem in the fourth quarter valued at $3,132,000. State Street Corp grew its position in shares of First Interstate BancSystem by 152.8% in the first quarter. State Street Corp now owns 4,344,413 shares of the financial services provider’s stock valued at $159,744,000 after purchasing an additional 2,626,221 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of First Interstate BancSystem by 133.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,510,999 shares of the financial services provider’s stock valued at $129,101,000 after purchasing an additional 2,007,261 shares in the last quarter. Institutional investors own 69.42% of the company’s stock.

First Interstate BancSystem Company Profile (Get Rating)

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.

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Insider Buying and Selling by Quarter for First Interstate BancSystem (NASDAQ:FIBK)

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