Cypress Capital Management LLC WY Has $2.17 Million Position in First Interstate BancSystem, Inc. $FIBK

Cypress Capital Management LLC WY decreased its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 31.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,950 shares of the financial services provider’s stock after selling 30,825 shares during the period. First Interstate BancSystem makes up about 2.2% of Cypress Capital Management LLC WY’s portfolio, making the stock its 13th largest position. Cypress Capital Management LLC WY’s holdings in First Interstate BancSystem were worth $2,166,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Altus Wealth Group LLC increased its position in shares of First Interstate BancSystem by 2.2% during the second quarter. Altus Wealth Group LLC now owns 27,072 shares of the financial services provider’s stock worth $780,000 after acquiring an additional 585 shares in the last quarter. GAMMA Investing LLC increased its holdings in First Interstate BancSystem by 186.5% during the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 647 shares in the last quarter. Inspire Investing LLC increased its holdings in First Interstate BancSystem by 5.6% during the 3rd quarter. Inspire Investing LLC now owns 14,239 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 757 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of First Interstate BancSystem by 11.9% in the third quarter. Bayforest Capital Ltd now owns 7,227 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 769 shares during the last quarter. Finally, First Horizon Corp bought a new position in shares of First Interstate BancSystem in the third quarter valued at approximately $26,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays upped their price target on First Interstate BancSystem from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Friday, December 19th. Keefe, Bruyette & Woods upped their target price on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Monday, December 29th. UBS Group restated a “neutral” rating and set a $37.00 price target on shares of First Interstate BancSystem in a report on Tuesday, January 6th. Finally, Wall Street Zen downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, First Interstate BancSystem presently has an average rating of “Hold” and a consensus price target of $37.29.

First Interstate BancSystem Price Performance

Shares of NASDAQ:FIBK opened at $36.86 on Wednesday. The company has a market capitalization of $3.79 billion, a P/E ratio of 15.55 and a beta of 0.80. The company’s 50-day moving average is $35.17 and its 200 day moving average is $32.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.73 and a current ratio of 0.74. First Interstate BancSystem, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $38.78.

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

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $32.75, for a total value of $327,500.00. Following the sale, the insider directly owned 224,460 shares in the company, valued at $7,351,065. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John M. Heyneman, Jr. sold 30,432 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $31.03, for a total value of $944,304.96. Following the transaction, the director owned 1,414,636 shares of the company’s stock, valued at $43,896,155.08. The trade was a 2.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 60,232 shares of company stock worth $1,914,116. Insiders own 8.20% of the company’s stock.

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.