First Interstate Bancsystem Inc (NASDAQ:FIBK) Shares Sold by Monarch Partners Asset Management LLC

Monarch Partners Asset Management LLC lowered its stake in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 16.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 249,429 shares of the financial services provider’s stock after selling 49,772 shares during the quarter. First Interstate Bancsystem comprises about 1.5% of Monarch Partners Asset Management LLC’s portfolio, making the stock its 19th biggest holding. Monarch Partners Asset Management LLC owned about 0.38% of First Interstate Bancsystem worth $10,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP lifted its position in shares of First Interstate Bancsystem by 12.5% during the first quarter. First Trust Advisors LP now owns 135,208 shares of the financial services provider’s stock worth $5,384,000 after purchasing an additional 15,019 shares in the last quarter. Denali Advisors LLC lifted its position in shares of First Interstate Bancsystem by 225.9% during the second quarter. Denali Advisors LLC now owns 21,700 shares of the financial services provider’s stock worth $860,000 after purchasing an additional 15,041 shares in the last quarter. JGP Wealth Management LLC acquired a new stake in shares of First Interstate Bancsystem during the second quarter worth about $397,000. Allied Investment Advisors LLC lifted its position in shares of First Interstate Bancsystem by 6.1% during the second quarter. Allied Investment Advisors LLC now owns 9,282 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 530 shares in the last quarter. Finally, CAPROCK Group Inc. acquired a new stake in shares of First Interstate Bancsystem during the second quarter worth about $299,000. 49.05% of the stock is currently owned by institutional investors.

First Interstate Bancsystem stock traded down $0.23 during mid-day trading on Friday, hitting $42.75. The company had a trading volume of 109,400 shares, compared to its average volume of 194,349. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.76 and a beta of 1.18. First Interstate Bancsystem Inc has a 1 year low of $34.61 and a 1 year high of $43.97. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $41.31 and a 200 day moving average of $39.84.

First Interstate Bancsystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.03). The company had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $167.38 million. First Interstate Bancsystem had a net margin of 24.08% and a return on equity of 10.48%. Equities analysts anticipate that First Interstate Bancsystem Inc will post 3.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Saturday, November 9th will be given a dividend of $0.31 per share. The ex-dividend date is Thursday, November 7th. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.20. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.90%. First Interstate Bancsystem’s dividend payout ratio (DPR) is 42.47%.

FIBK has been the topic of a number of recent research reports. ValuEngine upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, BidaskClub upgraded shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.48.

In other news, Director Ross E. Leckie sold 1,219 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $39.27, for a total transaction of $47,870.13. Following the transaction, the director now directly owns 17,027 shares in the company, valued at $668,650.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ross E. Leckie sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $42.95, for a total transaction of $42,950.00. Following the transaction, the director now owns 13,927 shares in the company, valued at $598,164.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,297 shares of company stock worth $390,489. Insiders own 24.93% of the company’s stock.

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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

Further Reading: Strangles

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Institutional Ownership by Quarter for First Interstate Bancsystem (NASDAQ:FIBK)

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