Wolverine Asset Management LLC Purchases Shares of 1,257 First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Wolverine Asset Management LLC acquired a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,257 shares of the financial services provider’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds have also modified their holdings of FIBK. FMR LLC raised its position in First Interstate BancSystem by 0.4% in the third quarter. FMR LLC now owns 6,451,758 shares of the financial services provider’s stock worth $160,907,000 after purchasing an additional 28,343 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of First Interstate BancSystem by 11.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,828,658 shares of the financial services provider’s stock worth $70,547,000 after buying an additional 286,160 shares during the period. American Century Companies Inc. boosted its stake in First Interstate BancSystem by 4.1% in the 3rd quarter. American Century Companies Inc. now owns 2,224,365 shares of the financial services provider’s stock valued at $55,476,000 after buying an additional 87,039 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in First Interstate BancSystem by 0.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,908,294 shares of the financial services provider’s stock valued at $47,593,000 after acquiring an additional 13,830 shares during the period. Finally, Jennison Associates LLC raised its stake in First Interstate BancSystem by 93.4% during the third quarter. Jennison Associates LLC now owns 1,426,641 shares of the financial services provider’s stock worth $35,580,000 after acquiring an additional 688,906 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Trading Up 0.2 %

Shares of FIBK opened at $27.00 on Monday. The stock’s fifty day simple moving average is $26.10 and its 200-day simple moving average is $26.71. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $2.81 billion, a PE ratio of 10.76 and a beta of 0.87. First Interstate BancSystem, Inc. has a 12-month low of $20.81 and a 12-month high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. The company had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. As a group, research analysts predict that First Interstate BancSystem, Inc. will post 2.17 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date of this dividend is Friday, May 3rd. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 74.90%.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the transaction, the executive vice president now owns 20,599 shares of the company’s stock, valued at $551,229.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Kristina Robbins sold 2,710 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total value of $69,999.30. Following the completion of the sale, the executive vice president now owns 9,047 shares in the company, valued at approximately $233,684.01. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the transaction, the executive vice president now owns 20,599 shares in the company, valued at $551,229.24. The disclosure for this sale can be found here. Insiders have sold 7,531 shares of company stock worth $197,645 in the last three months. Insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FIBK. Barclays boosted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday. Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday. TheStreet cut shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. Wells Fargo & Company increased their price target on 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. Finally, Stephens reissued an “overweight” rating and issued a $32.00 price objective on shares of First Interstate BancSystem in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and a consensus target price of $29.20.

First Interstate BancSystem 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.