Envestnet Asset Management Inc. Has $1.02 Million Stock Holdings in First Interstate BancSystem, Inc. $FIBK

Envestnet Asset Management Inc. decreased its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 28.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 35,206 shares of the financial services provider’s stock after selling 14,179 shares during the period. Envestnet Asset Management Inc.’s holdings in First Interstate BancSystem were worth $1,015,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of First Interstate BancSystem by 186.5% in the second quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock valued at $29,000 after purchasing 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 valued at $33,000 after buying an additional 450 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in First Interstate BancSystem in the 2nd quarter valued at $186,000. Quantbot Technologies LP bought a new stake in First Interstate BancSystem during the 1st quarter worth about $215,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of First Interstate BancSystem during the 1st quarter worth about $238,000. 88.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FIBK. DA Davidson lifted their target price on First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Wall Street Zen raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group increased their price objective on First Interstate BancSystem from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Wells Fargo & Company raised their target price on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and an average target price of $35.57.

Insider Activity at First Interstate BancSystem

In related news, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of First Interstate BancSystem stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $31.59, for a total transaction of $315,900.00. Following the completion of the sale, the insider directly owned 244,460 shares of the company’s stock, valued at approximately $7,722,491.40. This trade represents a 3.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Jonathan R. Scott sold 13,715 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $32.09, for a total value of $440,114.35. Following the completion of the sale, the insider owned 959,109 shares of the company’s stock, valued at $30,777,807.81. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 51,800 shares of company stock worth $1,641,583 in the last ninety days. 8.20% of the stock is owned by company insiders.

First Interstate BancSystem Price Performance

NASDAQ:FIBK opened at $31.42 on Friday. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $36.77. The company has a market cap of $3.23 billion, a P/E ratio of 13.26 and a beta of 0.83. The firm’s fifty day moving average price is $31.74 and its two-hundred day moving average price is $30.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.74.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, October 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $204.70 million during the quarter, compared to analysts’ expectations of $254.71 million. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 7.30%. During the same quarter last year, the company posted $0.54 EPS. Equities analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Monday, November 10th. First Interstate BancSystem’s payout ratio is currently 79.32%.

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.