Nisa Investment Advisors LLC Raises Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Nisa Investment Advisors LLC boosted its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 99.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,870 shares of the financial services provider’s stock after buying an additional 2,430 shares during the period. Nisa Investment Advisors LLC’s holdings in First Interstate BancSystem were worth $150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC increased its stake in First Interstate BancSystem by 132.8% during the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the period. PNC Financial Services Group Inc. grew its position in shares of First Interstate BancSystem by 263.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,081 shares of the financial services provider’s stock worth $77,000 after buying an additional 1,508 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of First Interstate BancSystem during the fourth quarter worth about $93,000. Captrust Financial Advisors boosted its holdings in First Interstate BancSystem by 489.2% in the first quarter. Captrust Financial Advisors now owns 2,881 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 2,392 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in First Interstate BancSystem in the third quarter valued at approximately $81,000. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

First Interstate BancSystem Trading Up 3.6 %

NASDAQ:FIBK opened at $25.60 on Friday. The stock has a fifty day moving average price of $26.03 and a two-hundred day moving average price of $26.60. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 10.32 and a beta of 0.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.77. First Interstate BancSystem, Inc. has a 1 year low of $20.81 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $252.30 million during the quarter, compared to analysts’ expectations of $254.50 million. First Interstate BancSystem had a return on equity of 8.47% and a net margin of 18.04%. As a group, sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.17 earnings per share for the current fiscal year.

First Interstate BancSystem Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 19th. Shareholders of record on Friday, February 9th were given a $0.47 dividend. This is a boost from First Interstate BancSystem’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.88 annualized dividend and a yield of 7.34%. First Interstate BancSystem’s dividend payout ratio is presently 75.81%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other First Interstate BancSystem news, insider Lorrie F. Asker sold 1,921 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the sale, the insider now owns 6,909 shares of the company’s stock, valued at $179,979.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total value of $69,999.30. Following the sale, the executive vice president now owns 9,047 shares of the company’s stock, valued at $233,684.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the sale, the insider now directly owns 6,909 shares in the company, valued at approximately $179,979.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,531 shares of company stock worth $197,645. 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.