Wealth Enhancement Advisory Services LLC Increases Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 11.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,324 shares of the financial services provider’s stock after purchasing an additional 1,450 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in First Interstate BancSystem were worth $465,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wood Tarver Financial Group LLC acquired a new position in First Interstate BancSystem during the fourth quarter worth $26,000. Meeder Asset Management Inc. acquired a new stake in shares of First Interstate BancSystem in the 4th quarter worth $69,000. Covestor Ltd raised its holdings in shares of First Interstate BancSystem by 25.8% during the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 510 shares during the period. Sterling Capital Management LLC raised its holdings in shares of First Interstate BancSystem by 826.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 2,231 shares during the period. Finally, GTS Securities LLC acquired a new position in shares of First Interstate BancSystem during the 4th quarter valued at about $203,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FIBK shares. Barclays cut their price objective on shares of First Interstate BancSystem from $31.00 to $28.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Wall Street Zen upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Saturday, May 10th. Finally, Wells Fargo & Company reduced their price target on shares of First Interstate BancSystem from $30.00 to $25.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus price target of $35.00.

First Interstate BancSystem Trading Down 1.1%

NASDAQ FIBK opened at $27.45 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $2.88 billion, a P/E ratio of 12.53 and a beta of 0.79. The firm’s 50-day moving average is $26.74 and its two-hundred day moving average is $29.97. First Interstate BancSystem, Inc. has a 12 month low of $22.95 and a 12 month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The company had revenue of $42.00 million during the quarter, compared to analyst estimates of $253.50 million. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 earnings per share. On average, sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date was Monday, May 12th. First Interstate BancSystem’s dividend payout ratio (DPR) is 89.10%.

About First Interstate BancSystem

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.