River & Mercantile Asset Management LLP Sells 3,570 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

River & Mercantile Asset Management LLP lowered its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Rating) by 8.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,203 shares of the financial services provider’s stock after selling 3,570 shares during the quarter. River & Mercantile Asset Management LLP’s holdings in First Interstate BancSystem were worth $1,542,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of First Interstate BancSystem by 32.7% during the third quarter. Quadrant Capital Group LLC now owns 917 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 226 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of First Interstate BancSystem by 263.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,081 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 1,508 shares during the last quarter. Captrust Financial Advisors raised its position in shares of First Interstate BancSystem by 489.2% during the first quarter. Captrust Financial Advisors now owns 2,881 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 2,392 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of First Interstate BancSystem during the second quarter worth $188,000. Finally, Xponance Inc. bought a new stake in shares of First Interstate BancSystem during the third quarter worth $207,000. Institutional investors own 77.78% of the company’s stock.

Wall Street Analysts Forecast Growth

FIBK has been the subject of a number of recent research reports. Janney Montgomery Scott downgraded First Interstate BancSystem from a “buy” rating to a “neutral” rating in a research report on Monday, January 30th. Stephens raised First Interstate BancSystem from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $44.00 to $43.00 in a research note on Wednesday, February 1st. StockNews.com initiated coverage on First Interstate BancSystem in a research note on Thursday. They set a “sell” rating for the company. Wells Fargo & Company decreased their price objective on First Interstate BancSystem from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Finally, UBS Group began coverage on First Interstate BancSystem in a research note on Wednesday. They set a “neutral” rating and a $33.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.00.

Insider Activity

In other news, Director James Brannen sold 9,300 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $36.71, for a total value of $341,403.00. Following the transaction, the director now owns 8,385 shares of the company’s stock, valued at $307,813.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director James Brannen sold 9,300 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $36.71, for a total transaction of $341,403.00. Following the sale, the director now owns 8,385 shares of the company’s stock, valued at $307,813.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julie A. Scott sold 288,000 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $35.63, for a total value of $10,261,440.00. Following the sale, the director now directly owns 2,517,351 shares in the company, valued at approximately $89,693,216.13. The disclosure for this sale can be found here. 6.40% of the stock is owned by company insiders.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $31.39 on Thursday. First Interstate BancSystem, Inc. has a 12 month low of $29.50 and a 12 month high of $46.34. The stock’s 50 day moving average is $36.33 and its 200-day moving average is $39.86. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 16.97 and a beta of 0.86.

First Interstate BancSystem Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Tuesday, February 7th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.99%. The ex-dividend date was Monday, February 6th. First Interstate BancSystem’s payout ratio is 101.62%.

About First Interstate BancSystem

(Get Rating)

First Interstate BancSystem, Inc is a financial holding company, which engages in the provision of community banking solutions. The firm offers commercial and consumer banking services to individuals, businesses, municipalities, and other entities. The company was founded by Homer Scott Sr. in 1968 and is headquartered in Billings, MT.