Telos Capital Management Inc. Buys Shares of 6,675 First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Telos Capital Management Inc. bought a new stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,675 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other hedge funds have also recently bought and sold shares of FIBK. Captrust Financial Advisors boosted its stake in shares of First Interstate BancSystem by 14.1% in the 2nd quarter. Captrust Financial Advisors now owns 3,288 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 407 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of First Interstate BancSystem by 5.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 7,822 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 422 shares in the last quarter. Mariner LLC boosted its stake in shares of First Interstate BancSystem by 3.5% in the 3rd quarter. Mariner LLC now owns 12,897 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 432 shares in the last quarter. Caprock Group LLC boosted its stake in shares of First Interstate BancSystem by 1.8% in the 4th quarter. Caprock Group LLC now owns 24,814 shares of the financial services provider’s stock valued at $763,000 after purchasing an additional 443 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of First Interstate BancSystem by 0.4% in the 3rd quarter. California State Teachers Retirement System now owns 116,182 shares of the financial services provider’s stock valued at $4,688,000 after purchasing an additional 510 shares in the last quarter. 88.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FIBK has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. TheStreet downgraded shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Finally, Barclays initiated coverage on shares of First Interstate BancSystem in a research report on Friday, March 8th. They set an “equal weight” rating and a $28.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.00.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK opened at $24.44 on Thursday. The company has a fifty day moving average of $26.05 and a 200-day moving average of $26.61. The firm has a market capitalization of $2.54 billion, a P/E ratio of 9.85 and a beta of 0.87. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89. First Interstate BancSystem, Inc. has a twelve month low of $20.81 and a twelve month high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $252.30 million during the quarter, compared to analyst estimates of $254.50 million. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.47%. As a group, sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.17 EPS for the current year.

First Interstate BancSystem Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 19th. Stockholders of record on Friday, February 9th were paid a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.88 annualized dividend and a dividend yield of 7.69%. This is a positive change from First Interstate BancSystem’s previous quarterly dividend of $0.20. First Interstate BancSystem’s payout ratio is currently 75.81%.

Insider Activity

In other news, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total value of $77,604.00. Following the completion of the sale, the executive vice president now owns 20,599 shares in the company, valued at approximately $551,229.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other First Interstate BancSystem news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the sale, the insider now owns 6,909 shares in the company, valued at approximately $179,979.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the sale, the executive vice president now owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The disclosure for this sale can be found here. Insiders sold 7,531 shares of company stock worth $197,645 in the last quarter. 6.80% of the stock is owned by corporate insiders.

First Interstate BancSystem Company Profile

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.