First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Bought by Naples Global Advisors LLC

Naples Global Advisors LLC grew its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 12.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,510 shares of the financial services provider’s stock after acquiring an additional 1,060 shares during the period. Naples Global Advisors LLC’s holdings in First Interstate BancSystem were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of FIBK. Barclays PLC lifted its position in shares of First Interstate BancSystem by 18.6% during the 3rd quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock valued at $6,326,000 after acquiring an additional 32,298 shares during the last quarter. KBC Group NV lifted its holdings in shares of First Interstate BancSystem by 34.1% in the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,022 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of First Interstate BancSystem by 1.4% in the fourth quarter. Rhumbline Advisers now owns 129,964 shares of the financial services provider’s stock valued at $4,220,000 after purchasing an additional 1,785 shares in the last quarter. Kestra Investment Management LLC lifted its holdings in shares of First Interstate BancSystem by 105.1% in the fourth quarter. Kestra Investment Management LLC now owns 52,757 shares of the financial services provider’s stock valued at $1,713,000 after purchasing an additional 27,030 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of First Interstate BancSystem by 14.0% in the fourth quarter. New York State Common Retirement Fund now owns 26,866 shares of the financial services provider’s stock valued at $872,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Trading Up 2.5%

NASDAQ FIBK opened at $27.89 on Friday. First Interstate BancSystem, Inc. has a 1-year low of $22.95 and a 1-year high of $36.77. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $2.93 billion, a PE ratio of 12.74 and a beta of 0.79. The firm’s fifty day simple moving average is $26.66 and its 200-day simple moving average is $30.13.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. The company had revenue of $42.00 million during the quarter, compared to analyst estimates of $253.50 million. During the same period last year, the company posted $0.57 earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem’s payout ratio is 89.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FIBK. Barclays reduced their target price on First Interstate BancSystem from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, April 8th. Wall Street Zen upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Saturday, May 10th. Finally, Wells Fargo & Company reduced their target price on First Interstate BancSystem from $30.00 to $25.00 and set an “underweight” rating for the company in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.00.

First Interstate BancSystem Profile

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.