Commonwealth of Pennsylvania Public School Empls Retrmt SYS Makes New $767,000 Investment in First Interstate BancSystem, Inc. $FIBK

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 22,161 shares of the financial services provider’s stock, valued at approximately $767,000.

Other institutional investors have also bought and sold shares of the company. Eurizon Capital SGR S.p.A. purchased a new position in First Interstate BancSystem in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in 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 worth $43,000 after purchasing an additional 862 shares in the last quarter. First Horizon Corp lifted its stake in First Interstate BancSystem by 56.0% in the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 455 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in First Interstate BancSystem by 1,485.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,500 shares in the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new position in First Interstate BancSystem in the 3rd quarter worth approximately $52,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Jonathan R. Scott sold 12,892 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $35.58, for a total transaction of $458,697.36. Following the completion of the sale, the insider owned 866,628 shares in the company, valued at $30,834,624.24. This trade represents a 1.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.00% of the stock is owned by corporate insiders.

First Interstate BancSystem Stock Up 1.5%

Shares of NASDAQ FIBK opened at $36.10 on Wednesday. The company has a 50 day simple moving average of $34.77 and a 200-day simple moving average of $35.16. The company has a market capitalization of $3.51 billion, a P/E ratio of 11.76 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. First Interstate BancSystem, Inc. has a 1 year low of $25.81 and a 1 year high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $5.10 million during the quarter, compared to the consensus estimate of $242.78 million. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.13%. During the same quarter last year, the firm earned $0.49 EPS. On average, equities research analysts predict that First Interstate BancSystem, Inc. will post 2.66 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, May 11th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.2%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 61.24%.

Wall Street Analyst Weigh In

FIBK has been the topic of a number of research reports. Wall Street Zen raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Saturday. DA Davidson lowered shares of First Interstate BancSystem from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $41.00 to $39.00 in a research note on Wednesday, May 27th. Piper Sandler cut their price target on shares of First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Weiss Ratings upgraded shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $37.00 price target (down from $38.00) on shares of First Interstate BancSystem in a report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.00.

First Interstate BancSystem Company 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.