Altus Wealth Group LLC Decreases Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Altus Wealth Group LLC decreased its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,839 shares of the financial services provider’s stock after selling 673 shares during the quarter. Altus Wealth Group LLC’s holdings in First Interstate BancSystem were worth $774,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new position in First Interstate BancSystem during the 3rd quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in First Interstate BancSystem during the third quarter valued at approximately $69,000. KBC Group NV boosted its holdings in 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 worth $130,000 after purchasing an additional 1,022 shares during the last quarter. FourThought Financial Partners LLC bought a new stake in First Interstate BancSystem in the 4th quarter worth approximately $242,000. Finally, Point72 Asset Management L.P. purchased a new stake in First Interstate BancSystem during the 3rd quarter valued at $273,000. Institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FIBK has been the subject of several research analyst reports. UBS Group initiated coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price objective for the company. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. DA Davidson reissued a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 30th. Wells Fargo & Company boosted their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Finally, Barclays increased their price target on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.14.

Insiders Place Their Bets

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the transaction, the director now owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

First Interstate BancSystem Stock Up 2.7 %

Shares of FIBK stock opened at $28.85 on Friday. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 13.17 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The company’s fifty day moving average price is $31.47 and its 200-day moving average price is $31.81. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. Sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a yield of 6.52%. First Interstate BancSystem’s dividend payout ratio is presently 85.84%.

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.