Cladis Investment Advisory LLC Has $3.02 Million Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Cladis Investment Advisory LLC reduced its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,453 shares of the financial services provider’s stock after selling 1,955 shares during the quarter. First Interstate BancSystem accounts for 2.1% of Cladis Investment Advisory LLC’s portfolio, making the stock its 7th largest position. Cladis Investment Advisory LLC’s holdings in First Interstate BancSystem were worth $3,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of First Interstate BancSystem by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock valued at $127,204,000 after purchasing an additional 367,212 shares during the last quarter. Versor Investments LP acquired a new stake in First Interstate BancSystem in the 3rd quarter valued at $914,000. Empower Advisory Group LLC lifted its position in First Interstate BancSystem by 4.8% during the 3rd quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock worth $14,318,000 after buying an additional 21,191 shares in the last quarter. CWM LLC increased its position in shares of First Interstate BancSystem by 16.0% in the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 430 shares during the last quarter. Finally, Quest Partners LLC increased its position in shares of First Interstate BancSystem by 1,115.4% in the third quarter. Quest Partners LLC now owns 82,998 shares of the financial services provider’s stock valued at $2,546,000 after acquiring an additional 76,169 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the transaction, the director now directly owns 958,710 shares of the company’s stock, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Julie A. Scott sold 22,050 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the transaction, the insider now owns 613,019 shares of the company’s stock, valued at $20,720,042.20. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,837 shares of company stock worth $1,839,583. Corporate insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FIBK. Barclays downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $32.00 to $30.00 in a research note on Thursday, October 31st. DA Davidson raised shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and raised their target price for the company from $32.00 to $42.00 in a research note on Tuesday, November 26th. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Finally, Stephens reiterated an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, First Interstate BancSystem has an average rating of “Hold” and a consensus target price of $33.83.

First Interstate BancSystem Trading Down 1.1 %

FIBK stock opened at $34.97 on Monday. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 15.34 and a beta of 0.81. The company has a fifty day moving average price of $31.93 and a two-hundred day moving average price of $29.80. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter last year, the business posted $0.70 earnings per share. Equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.38%. First Interstate BancSystem’s dividend payout ratio is presently 82.46%.

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.