AlphaQuest LLC Acquires 10,111 Shares of First Interstate BancSystem, Inc. $FIBK

Key Points

• AlphaQuest LLC increased its stake in First Interstate BancSystem by 307.4%, acquiring an additional 10,111 shares and bringing its total to 13,400 shares worth $384,000.
• First Interstate BancSystem recently reported an earnings per share (EPS) of $0.69, exceeding analysts' expectations of $0.57, despite a revenue of $248.30 million that fell short of the $253.73 million forecast.
• The company announced a quarterly dividend of $0.47 per share, resulting in an annual yield of 5.8%, with a payout ratio of 84.68%.

AlphaQuest LLC increased its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 307.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,400 shares of the financial services provider's stock after acquiring an additional 10,111 shares during the quarter. AlphaQuest LLC's holdings in First Interstate BancSystem were worth $384,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FIBK. Wood Tarver Financial Group LLC bought a new position in shares of First Interstate BancSystem in the fourth quarter valued at $26,000. JNBA Financial Advisors bought a new position in shares of First Interstate BancSystem in the first quarter valued at $29,000. Exchange Traded Concepts LLC lifted its stake in shares of First Interstate BancSystem by 1,258.8% in the first quarter. Exchange Traded Concepts LLC now owns 4,851 shares of the financial services provider's stock valued at $139,000 after buying an additional 4,494 shares in the last quarter. KBC Group NV raised its stake in shares of First Interstate BancSystem by 26.4% in the first quarter. KBC Group NV now owns 5,079 shares of the financial services provider's stock worth $146,000 after purchasing an additional 1,061 shares during the last quarter. Finally, GTS Securities LLC purchased a new stake in shares of First Interstate BancSystem in the fourth quarter worth approximately $203,000. Institutional investors and hedge funds own 88.71% of the company's stock.

First Interstate BancSystem Stock Performance

NASDAQ FIBK traded up $0.67 during trading hours on Monday, reaching $32.72. 1,065,264 shares of the company were exchanged, compared to its average volume of 768,849. First Interstate BancSystem, Inc. has a 1 year low of $22.95 and a 1 year high of $36.77. The business's 50 day simple moving average is $30.12 and its 200-day simple moving average is $28.59. 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 capitalization of $3.43 billion, a P/E ratio of 14.74 and a beta of 0.80.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.12. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 6.82%. The business had revenue of $248.30 million during the quarter, compared to the consensus estimate of $253.73 million. During the same quarter last year, the company posted $0.58 earnings per share. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business 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. This represents a $1.88 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Monday, August 11th. First Interstate BancSystem's dividend payout ratio (DPR) is 84.68%.

Wall Street Analyst Weigh In

Several analysts have recently commented on FIBK shares. Wall Street Zen downgraded First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 target price for the company in a report on Monday, June 23rd. Wells Fargo & Company increased their target price on shares of First Interstate BancSystem from $25.00 to $28.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. Finally, Barclays upgraded shares of First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $28.00 to $32.00 in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $35.43.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 11,818 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $30.18, for a total transaction of $356,667.24. Following the completion of the transaction, the director owned 5,224 shares in the company, valued at $157,660.32. This trade represents a 69.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the stock in a transaction dated 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 $14,745,072.16. This represents a 9.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,818 shares of company stock valued at $3,600,017 in the last 90 days. 8.20% of the stock is currently owned by corporate insiders.

First Interstate BancSystem Company 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.