Capstone Wealth Management Inc. Buys Shares of 22,245 First Interstate BancSystem, Inc. $FIBK

Capstone Wealth Management Inc. purchased a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,245 shares of the financial services provider’s stock, valued at approximately $776,000. First Interstate BancSystem accounts for 0.7% of Capstone Wealth Management Inc.’s holdings, making the stock its 24th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Capital Management Inc. lifted its stake in First Interstate BancSystem by 0.5% during the 4th quarter. Northern Capital Management Inc. now owns 52,100 shares of the financial services provider’s stock worth $1,803,000 after acquiring an additional 275 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of First Interstate BancSystem by 2.7% during the fourth quarter. HighTower Advisors LLC now owns 14,177 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 375 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of First Interstate BancSystem by 0.4% during the third quarter. Alliancebernstein L.P. now owns 108,600 shares of the financial services provider’s stock worth $3,461,000 after purchasing an additional 397 shares in the last quarter. First Horizon Corp boosted its stake in shares of First Interstate BancSystem by 56.0% in the fourth quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 455 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of First Interstate BancSystem by 49.6% in the fourth quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 516 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $36.43 on Friday. The stock’s 50-day simple moving average is $35.19 and its 200-day simple moving average is $35.37. The firm has a market capitalization of $3.54 billion, a PE ratio of 11.87 and a beta of 0.76. First Interstate BancSystem, Inc. has a fifty-two week low of $26.16 and a fifty-two week high of $39.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $5.10 million during the quarter, compared to the consensus estimate of $242.78 million. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.During the same period in the prior year, the company posted $0.49 earnings per share. As a group, equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.66 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

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

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 15,000 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.97, for a total value of $539,550.00. Following the completion of the transaction, the insider owned 488,359 shares in the company, valued at approximately $17,566,273.23. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Jonathan R. Scott sold 12,892 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $35.58, for a total transaction of $458,697.36. Following the completion of the transaction, the insider directly owned 866,628 shares in the company, valued at $30,834,624.24. This trade represents a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 32,392 shares of company stock valued at $1,161,552. Company insiders own 8.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FIBK. Piper Sandler reduced their price target on First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. DA Davidson downgraded First Interstate BancSystem from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $41.00 to $39.00 in a research report on Wednesday, May 27th. Weiss Ratings lowered shares of First Interstate BancSystem from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Wells Fargo & Company upped their target price on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, March 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $37.00 target price (down from $38.00) on shares of First Interstate BancSystem in a report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.00.

About First Interstate BancSystem

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.