Nisa Investment Advisors LLC Invests $30,000 in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Nisa Investment Advisors LLC acquired a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBKGet Rating) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 807 shares of the financial services provider’s stock, valued at approximately $30,000.

A number of other institutional investors have also modified their holdings of the business. River Oaks Capital LLC acquired a new stake in First Interstate BancSystem in the fourth quarter valued at about $3,132,000. Massachusetts Financial Services Co. MA increased its stake in shares of First Interstate BancSystem by 144.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,805,250 shares of the financial services provider’s stock worth $114,089,000 after purchasing an additional 1,656,061 shares in the last quarter. abrdn plc grew its stake in First Interstate BancSystem by 7.5% in the 4th quarter. abrdn plc now owns 1,636,326 shares of the financial services provider’s stock worth $66,549,000 after acquiring an additional 113,493 shares during the period. Nuveen Asset Management LLC grew its stake in First Interstate BancSystem by 68.2% in the 4th quarter. Nuveen Asset Management LLC now owns 932,333 shares of the financial services provider’s stock worth $37,918,000 after acquiring an additional 378,192 shares during the period. Finally, Schroder Investment Management Group grew its stake in First Interstate BancSystem by 0.8% in the 4th quarter. Schroder Investment Management Group now owns 888,017 shares of the financial services provider’s stock worth $36,116,000 after acquiring an additional 7,062 shares during the period. 69.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FIBK has been the topic of several recent research reports. Janney Montgomery Scott upgraded shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Tuesday, May 3rd. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods upgraded First Interstate BancSystem from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Monday, May 2nd. Finally, TheStreet lowered First Interstate BancSystem from a “b” rating to a “c” rating in a research note on Tuesday, May 31st. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $40.78 on Monday. First Interstate BancSystem, Inc. has a 52 week low of $32.40 and a 52 week high of $45.91. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 22.41 and a beta of 0.97. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $37.95 and a 200-day moving average of $37.39.

First Interstate BancSystem (NASDAQ:FIBKGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.16). First Interstate BancSystem had a net margin of 14.78% and a return on equity of 9.11%. The company had revenue of $288.90 million for the quarter, compared to analyst estimates of $271.40 million. During the same quarter in the prior year, the firm earned $0.69 EPS. As a group, analysts forecast that First Interstate BancSystem, Inc. will post 2.66 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Tuesday, August 9th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Monday, August 8th. First Interstate BancSystem’s payout ratio is currently 90.11%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, insider Philip G. Gaglia sold 1,199 shares of First Interstate BancSystem stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $34.89, for a total transaction of $41,833.11. Following the sale, the insider now owns 1,687 shares of the company’s stock, valued at approximately $58,859.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Kevin P. Riley acquired 15,899 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were bought at an average price of $37.33 per share, with a total value of $593,509.67. Following the purchase, the chief executive officer now owns 92,555 shares of the company’s stock, valued at $3,455,078.15. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Philip G. Gaglia sold 1,199 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $34.89, for a total value of $41,833.11. Following the completion of the sale, the insider now directly owns 1,687 shares in the company, valued at approximately $58,859.43. The disclosure for this sale can be found here. 6.40% of the stock is owned by company insiders.

First Interstate BancSystem Profile

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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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Institutional Ownership by Quarter for First Interstate BancSystem (NASDAQ:FIBK)

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