Leeward Investments LLC MA Reduces Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Leeward Investments LLC MA lowered its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.9% in the fourth quarter, HoldingsChannel reports. The firm owned 628,583 shares of the financial services provider’s stock after selling 25,826 shares during the period. Leeward Investments LLC MA’s holdings in First Interstate BancSystem were worth $19,329,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FIBK. Jennison Associates LLC lifted its position in First Interstate BancSystem by 93.4% in the third quarter. Jennison Associates LLC now owns 1,426,641 shares of the financial services provider’s stock valued at $35,580,000 after buying an additional 688,906 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in First Interstate BancSystem in the third quarter valued at about $10,857,000. Wellington Management Group LLP lifted its position in First Interstate BancSystem by 11.3% in the third quarter. Wellington Management Group LLP now owns 2,828,658 shares of the financial services provider’s stock valued at $70,547,000 after buying an additional 286,160 shares during the last quarter. Victory Capital Management Inc. lifted its position in First Interstate BancSystem by 1,742.8% in the third quarter. Victory Capital Management Inc. now owns 284,436 shares of the financial services provider’s stock valued at $7,094,000 after buying an additional 269,001 shares during the last quarter. Finally, UBS Group AG lifted its position in First Interstate BancSystem by 142.2% in the third quarter. UBS Group AG now owns 149,370 shares of the financial services provider’s stock valued at $3,725,000 after buying an additional 87,710 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 0.2 %

Shares of NASDAQ:FIBK opened at $27.00 on Friday. The firm’s 50 day moving average price is $26.10 and its 200 day moving average price is $26.68. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 10.76 and a beta of 0.87. First Interstate BancSystem, Inc. has a fifty-two week low of $20.81 and a fifty-two week high of $32.54. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89.

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

First Interstate BancSystem Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Stephens reaffirmed an “overweight” rating and issued a $32.00 target price on shares of First Interstate BancSystem in a research report on Thursday. Barclays increased their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday. TheStreet cut shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Wells Fargo & Company increased their price target on shares of 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, Keefe, Bruyette & Woods increased their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $29.20.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,047 shares in the company, valued at $233,684.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,047 shares in the company, valued at $233,684.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the transaction, the insider now owns 6,909 shares in the company, valued at $179,979.45. The disclosure for this sale can be found here. Insiders have sold 7,531 shares of company stock worth $197,645 over the last three months. Insiders own 6.90% of the company’s stock.

About First Interstate BancSystem

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.