First Interstate BancSystem, Inc. $FIBK Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,388,754 shares of the financial services provider’s stock after selling 49,549 shares during the period. Massachusetts Financial Services Co. MA owned 1.32% of First Interstate BancSystem worth $44,260,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FIBK. First Horizon Corp acquired a new position in shares of First Interstate BancSystem in the third quarter worth about $26,000. GAMMA Investing LLC increased its stake in shares of First Interstate BancSystem by 186.5% in the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 647 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 862 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in First Interstate BancSystem in the 3rd quarter worth about $131,000. Finally, Bayforest Capital Ltd purchased a new position in First Interstate BancSystem during the second quarter worth approximately $186,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 1,827 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $36.92, for a total value of $67,452.84. Following the completion of the sale, the insider owned 936,024 shares in the company, valued at approximately $34,558,006.08. This represents a 0.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $32.75, for a total transaction of $327,500.00. Following the completion of the transaction, the insider directly owned 224,460 shares in the company, valued at $7,351,065. This trade represents a 4.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 67,232 shares of company stock valued at $2,138,746. Corporate insiders own 8.20% of the company’s stock.

First Interstate BancSystem Stock Up 5.4%

Shares of FIBK opened at $38.05 on Thursday. The stock has a 50 day moving average price of $34.65 and a 200 day moving average price of $32.47. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $38.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.73 and a current ratio of 0.74. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 16.05 and a beta of 0.80.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.69 earnings per share for the quarter. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%.The company had revenue of $250.50 million for the quarter. Equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Monday, November 10th. First Interstate BancSystem’s dividend payout ratio is currently 79.32%.

Analyst Ratings Changes

FIBK has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on First Interstate BancSystem from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Wall Street Zen lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. UBS Group reissued a “neutral” rating and issued a $37.00 price target on shares of First Interstate BancSystem in a report on Tuesday, January 6th. Weiss Ratings restated a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Monday, December 29th. Finally, Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, First Interstate BancSystem presently has an average rating of “Hold” and an average target price of $37.29.

First Interstate BancSystem Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.