First Interstate BancSystem, Inc. $FIBK Stock Holdings Increased by FJ Capital Management LLC

Key Points

• FJ Capital Management LLC increased its stake in First Interstate BancSystem by 44.8%, now owning 890,226 shares, which represents 2.6% of its portfolio.
• First Interstate BancSystem's recent earnings report showed an EPS of $0.69, exceeding estimates, but revenue of $248.30 million fell short of expectations.
• The company's most recent quarterly dividend was $0.47 per share, providing a 5.7% dividend yield for investors.

FJ Capital Management LLC lifted its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 44.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 890,226 shares of the financial services provider's stock after acquiring an additional 275,510 shares during the period. First Interstate BancSystem accounts for 2.6% of FJ Capital Management LLC's portfolio, making the stock its 11th biggest holding. FJ Capital Management LLC owned about 0.85% of First Interstate BancSystem worth $25,505,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its stake in First Interstate BancSystem by 2,336.8% during the 1st quarter. GAMMA Investing LLC now owns 9,942 shares of the financial services provider's stock valued at $285,000 after buying an additional 9,534 shares during the period. First Interstate Bank increased its stake in First Interstate BancSystem by 14.1% during the 1st quarter. First Interstate Bank now owns 5,053,342 shares of the financial services provider's stock valued at $144,778,000 after buying an additional 624,268 shares during the period. Ameriprise Financial Inc. increased its stake in First Interstate BancSystem by 39.7% during the 4th quarter. Ameriprise Financial Inc. now owns 62,928 shares of the financial services provider's stock valued at $2,043,000 after buying an additional 17,879 shares during the period. KBC Group NV increased its stake in First Interstate BancSystem by 26.4% during the 1st quarter. KBC Group NV now owns 5,079 shares of the financial services provider's stock valued at $146,000 after buying an additional 1,061 shares during the period. Finally, Brown Advisory Inc. increased its stake in First Interstate BancSystem by 1.1% during the 1st quarter. Brown Advisory Inc. now owns 1,017,252 shares of the financial services provider's stock valued at $29,144,000 after buying an additional 11,209 shares during the period. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Price Performance

Shares of NASDAQ:FIBK traded down $0.28 during trading hours on Friday, hitting $32.55. 432,290 shares of the company's stock traded hands, compared to its average volume of 663,221. First Interstate BancSystem, Inc. has a 52 week low of $22.95 and a 52 week high of $36.77. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.74 and a current ratio of 0.75. The company's fifty day simple moving average is $30.57 and its two-hundred day simple moving average is $28.65. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 14.66 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 for the quarter, beating the consensus estimate 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 company had revenue of $248.30 million during the quarter, compared to analyst estimates of $253.73 million. During the same quarter last year, the firm posted $0.58 EPS. The business's revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.88 dividend on an annualized basis and a yield of 5.8%. First Interstate BancSystem's dividend payout ratio is currently 84.68%.

Wall Street Analysts Forecast Growth

FIBK has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised shares of First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 target price on the stock in a research note on Monday, June 23rd. Wall Street Zen cut shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. Wells Fargo & Company raised their target price on shares of First Interstate BancSystem from $25.00 to $28.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Finally, Barclays raised shares of First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $28.00 to $32.00 in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $35.43.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $27.86, for a total transaction of $1,532,300.00. Following the completion of the sale, the insider directly owned 529,256 shares of the company's stock, valued at approximately $14,745,072.16. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John M. Heyneman, Jr. sold 11,818 shares of the company's 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 sale, the director directly owned 5,224 shares of the company's stock, valued at $157,660.32. This represents a 69.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,818 shares of company stock valued at $3,600,017 over the last ninety days. Insiders own 8.20% of the company's stock.

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.