Hantz Financial Services Inc. Cuts Stock Position in First Interstate BancSystem, Inc. $FIBK

Hantz Financial Services Inc. lowered its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 37.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 55,216 shares of the financial services provider’s stock after selling 33,553 shares during the quarter. Hantz Financial Services Inc.’s holdings in First Interstate BancSystem were worth $1,910,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in First Interstate BancSystem by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,495,403 shares of the financial services provider’s stock valued at $175,140,000 after purchasing an additional 78,835 shares in the last quarter. HoldCo Asset Management LP increased its stake in First Interstate BancSystem by 10.6% during the 3rd quarter. HoldCo Asset Management LP now owns 3,950,107 shares of the financial services provider’s stock valued at $125,890,000 after purchasing an additional 380,000 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in First Interstate BancSystem during the 3rd quarter valued at approximately $2,115,000. Cambria Investment Management L.P. acquired a new position in First Interstate BancSystem during the 3rd quarter valued at approximately $9,083,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in First Interstate BancSystem during the 3rd quarter valued at approximately $895,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays cut their price target on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, January 30th. 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 research note on Friday, May 1st. DA Davidson upped their price target on shares of First Interstate BancSystem from $39.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Stephens lowered shares of First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a research note on Thursday, February 5th. Finally, Wells Fargo & Company upped their price target on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the company an “underweight” rating in a research note on Monday, March 30th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, First Interstate BancSystem has an average rating of “Hold” and an average price target of $37.33.

First Interstate BancSystem Stock Up 1.8%

FIBK stock opened at $36.13 on Wednesday. The firm’s fifty day simple moving average is $34.28 and its 200-day simple moving average is $34.88. The company has a market capitalization of $3.51 billion, a P/E ratio of 11.77 and a beta of 0.77. 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 12 month low of $25.81 and a 12 month high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $5.10 million for 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 period in the prior year, the firm earned $0.49 EPS. As a group, equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.66 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Monday, May 11th. First Interstate BancSystem’s dividend payout ratio is 61.24%.

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.