SG Americas Securities LLC Grows Stock Position in First Interstate BancSystem, Inc. $FIBK

SG Americas Securities LLC raised its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 43.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,497 shares of the financial services provider’s stock after acquiring an additional 32,914 shares during the quarter. SG Americas Securities LLC owned 0.11% of First Interstate BancSystem worth $3,624,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. acquired a new position in First Interstate BancSystem in the 4th quarter worth $25,000. Kestra Advisory Services LLC acquired a new stake in shares of First Interstate BancSystem during the fourth quarter valued at about $29,000. First Horizon Corp increased its position in shares of First Interstate BancSystem by 56.0% during the fourth quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 455 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of First Interstate BancSystem by 139.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 862 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of First Interstate BancSystem by 49.6% during the fourth quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 15,000 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Jonathan R. Scott sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $36.29, for a total transaction of $163,305.00. Following the completion of the sale, the insider owned 862,128 shares in the company, valued at $31,286,625.12. The trade was a 0.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 32,392 shares of company stock worth $1,161,552. Corporate insiders own 8.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group increased their price target on First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a report on Friday, May 1st. Weiss Ratings downgraded First Interstate BancSystem from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 16th. Wells Fargo & Company upped their target price on First Interstate BancSystem from $30.00 to $36.00 and gave the company an “underweight” rating in a research report on Monday, March 30th. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Monday, June 22nd. Finally, Piper Sandler decreased their price target on shares of First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.00.

First Interstate BancSystem Stock Down 0.1%

NASDAQ:FIBK opened at $38.56 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 12.56 and a beta of 0.76. First Interstate BancSystem, Inc. has a one year low of $27.60 and a one year high of $39.26. The stock has a 50-day simple moving average of $35.78 and a 200 day simple moving average of $35.59.

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

First Interstate BancSystem Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, May 11th. This represents a $1.88 annualized dividend and a dividend yield of 4.9%. First Interstate BancSystem’s dividend payout ratio is currently 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.