US Bancorp DE Decreases Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

US Bancorp DE lowered its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBKGet Rating) by 11.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,487 shares of the financial services provider’s stock after selling 1,089 shares during the quarter. US Bancorp DE’s holdings in First Interstate BancSystem were worth $342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Legacy Wealth Asset Management LLC increased its position in First Interstate BancSystem by 2.4% during the second quarter. Legacy Wealth Asset Management LLC now owns 12,046 shares of the financial services provider’s stock valued at $459,000 after acquiring an additional 280 shares during the last quarter. Handelsbanken Fonder AB increased its position in First Interstate BancSystem by 2.0% during the third quarter. Handelsbanken Fonder AB now owns 15,553 shares of the financial services provider’s stock valued at $628,000 after acquiring an additional 300 shares during the last quarter. Strs Ohio increased its position in First Interstate BancSystem by 3.8% during the third quarter. Strs Ohio now owns 8,100 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 300 shares during the last quarter. CWM LLC increased its position in First Interstate BancSystem by 48.0% during the second quarter. CWM LLC now owns 944 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 306 shares during the last quarter. Finally, American International Group Inc. increased its position in First Interstate BancSystem by 0.8% during the second quarter. American International Group Inc. now owns 43,861 shares of the financial services provider’s stock valued at $1,672,000 after acquiring an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 77.78% of the company’s stock.

Insider Transactions at First Interstate BancSystem

In other news, major shareholder James R. Scott, Jr. sold 5,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the transaction, the insider now owns 85,306 shares of the company’s stock, valued at $3,924,076. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder James R. Scott, Jr. sold 5,000 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the completion of the transaction, the insider now directly owns 85,306 shares of the company’s stock, valued at $3,924,076. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jonathan R. Scott sold 30,000 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $44.16, for a total value of $1,324,800.00. Following the transaction, the director now directly owns 963,853 shares of the company’s stock, valued at $42,563,748.48. The disclosure for this sale can be found here. Insiders sold a total of 53,982 shares of company stock valued at $2,405,719 over the last 90 days. Company insiders own 6.40% of the company’s stock.

First Interstate BancSystem Stock Performance

NASDAQ FIBK opened at $37.21 on Wednesday. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 20.01 and a beta of 0.91. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $40.15 and a 200-day moving average price of $41.03. First Interstate BancSystem, Inc. has a twelve month low of $32.40 and a twelve month high of $46.34.

First Interstate BancSystem (NASDAQ:FIBKGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.09. The firm had revenue of $291.80 million during the quarter, compared to analyst estimates of $299.74 million. First Interstate BancSystem had a return on equity of 9.58% and a net margin of 16.71%. The business’s quarterly revenue was up 75.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. As a group, equities research analysts predict that First Interstate BancSystem, Inc. will post 3.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FIBK has been the subject of a number of research reports. Stephens upped their price objective on First Interstate BancSystem from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, October 31st. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Wells Fargo & Company boosted their price target on First Interstate BancSystem from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, October 6th. Finally, Piper Sandler boosted their price target on First Interstate BancSystem to $54.00 in a report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.40.

About First Interstate BancSystem

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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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