First Interstate BancSystem, Inc. $FIBK Shares Purchased by Villere ST Denis J & Co. LLC

Key Points

• Villere ST Denis J & Co. LLC increased its stake in First Interstate BancSystem by 15.1% in the first quarter, buying 82,117 additional shares and bringing its total holding to 627,031 shares worth about $20.9 million.
• Analyst sentiment remains mixed: the stock has a consensus rating of Hold with an average target price of $37.33, while recent ratings ranged from buy to sell and included several target price changes.
• The company reported Q1 EPS of $0.61, slightly ahead of estimates, and recently paid a quarterly dividend of $0.47 per share, implying an annualized yield of about 4.8%.

Villere ST Denis J & Co. LLC raised its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 15.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627,031 shares of the financial services provider's stock after buying an additional 82,117 shares during the period. First Interstate BancSystem comprises about 2.3% of Villere ST Denis J & Co. LLC's holdings, making the stock its 27th largest position. Villere ST Denis J & Co. LLC owned 0.62% of First Interstate BancSystem worth $20,943,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. acquired a new position in shares of First Interstate BancSystem during the 4th quarter worth about $25,000. Kestra Advisory Services LLC purchased a new stake in First Interstate BancSystem during the fourth quarter worth approximately $29,000. First Horizon Corp lifted its stake in First Interstate BancSystem by 56.0% during the fourth quarter. First Horizon Corp now owns 1,268 shares of the financial services provider's stock worth $44,000 after purchasing an additional 455 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in First Interstate BancSystem by 139.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 862 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in First Interstate BancSystem by 49.6% in the fourth quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 516 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FIBK has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of First Interstate BancSystem from $36.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday. Piper Sandler dropped their target price on shares of First Interstate BancSystem from $44.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 2nd. UBS Group lifted their price target on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the stock a "sell" rating in a research note on Friday, May 1st. DA Davidson lowered First Interstate BancSystem from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $41.00 to $39.00 in a report on Wednesday, May 27th. Finally, Weiss Ratings raised First Interstate BancSystem from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $37.33.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 4,500 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $36.29, for a total transaction of $163,305.00. Following the completion of the sale, the insider directly owned 862,128 shares of the company's stock, valued at approximately $31,286,625.12. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Julie A. Scott sold 15,000 shares of First Interstate BancSystem stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.97, for a total value of $539,550.00. Following the completion of the transaction, the insider owned 488,359 shares in the company, valued at $17,566,273.23. This trade represents a 2.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 32,392 shares of company stock valued at $1,161,552. 8.00% of the stock is owned by company insiders.

First Interstate BancSystem Stock Performance

FIBK stock traded down $0.06 on Friday, hitting $38.85. The company's stock had a trading volume of 629,557 shares, compared to its average volume of 993,464. The firm has a 50 day moving average of $36.45 and a two-hundred day moving average of $35.78. First Interstate BancSystem, Inc. has a 1 year low of $27.60 and a 1 year high of $39.65. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 12.65 and a beta of 0.76. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.13%. The company had revenue of $5.10 million for the quarter, compared to the consensus estimate of $242.78 million. During the same period last year, the firm posted $0.49 EPS. Equities analysts predict that First Interstate BancSystem, Inc. will post 2.66 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, May 11th. First Interstate BancSystem's payout ratio is 61.24%.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.

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