Leeward Investments LLC MA Purchases 79,274 Shares of First Interstate BancSystem, Inc. $FIBK

Leeward Investments LLC MA grew its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 13.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 666,886 shares of the financial services provider’s stock after acquiring an additional 79,274 shares during the quarter. First Interstate BancSystem accounts for 1.0% of Leeward Investments LLC MA’s portfolio, making the stock its 24th biggest holding. Leeward Investments LLC MA owned approximately 0.64% of First Interstate BancSystem worth $19,220,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FIBK. JNBA Financial Advisors bought a new stake in First Interstate BancSystem in the 1st quarter worth approximately $29,000. GAMMA Investing LLC increased its stake in First Interstate BancSystem by 186.5% in the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 647 shares during the last quarter. Quarry LP increased its stake in First Interstate BancSystem by 63.8% in the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 450 shares during the last quarter. KBC Group NV increased its stake in First Interstate BancSystem by 26.4% in the 1st quarter. KBC Group NV now owns 5,079 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 1,061 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new stake in First Interstate BancSystem in the 2nd quarter worth approximately $186,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

FIBK opened at $31.63 on Friday. The business has a fifty day moving average of $31.90 and a 200 day moving average of $29.43. First Interstate BancSystem, Inc. has a 52-week low of $22.95 and a 52-week high of $36.77. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.32 billion, a P/E ratio of 14.25 and a beta of 0.79.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. First Interstate BancSystem had a return on equity of 6.82% and a net margin of 16.04%.The company had revenue of $248.30 million during the quarter, compared to analysts’ expectations of $253.73 million. During the same quarter in the previous year, the business earned $0.58 EPS. First Interstate BancSystem’s revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, August 11th. This represents a $1.88 dividend on an annualized basis and a yield of 5.9%. First Interstate BancSystem’s payout ratio is presently 84.68%.

Analyst Ratings Changes

A number of analysts have issued reports on FIBK shares. Barclays lifted their price objective on First Interstate BancSystem from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their target price on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Saturday. Wall Street Zen cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Monday, August 11th. Finally, DA Davidson lifted their target price on First Interstate BancSystem from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.43.

Insider Activity at First Interstate BancSystem

In other news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $27.86, for a total transaction of $1,532,300.00. Following the transaction, the insider owned 529,256 shares of the company’s stock, valued at approximately $14,745,072.16. This represents a 9.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John M. Heyneman, Jr. sold 11,818 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $30.18, for a total value of $356,667.24. Following the transaction, the director directly owned 5,224 shares in the company, valued at $157,660.32. The trade was a 69.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,818 shares of company stock worth $2,845,925 in the last quarter. 8.20% of the stock is owned by company insiders.

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.