Leeward Investments LLC MA Trims Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Leeward Investments LLC MA reduced its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 587,612 shares of the financial services provider's stock after selling 22,315 shares during the period. Leeward Investments LLC MA owned 0.56% of First Interstate BancSystem worth $16,835,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of FIBK. Wood Tarver Financial Group LLC purchased a new position in shares of First Interstate BancSystem during the fourth quarter valued at approximately $26,000. JNBA Financial Advisors bought a new stake in shares of First Interstate BancSystem in the first quarter worth approximately $29,000. Meeder Asset Management Inc. bought a new stake in shares of First Interstate BancSystem in the fourth quarter worth approximately $69,000. Covestor Ltd raised its holdings in shares of First Interstate BancSystem by 25.8% during the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after purchasing an additional 510 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in First Interstate BancSystem by 826.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider's stock worth $81,000 after purchasing an additional 2,231 shares during the last quarter. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Stock Up 1.7%

FIBK stock opened at $31.12 on Friday. The business's 50-day moving average price is $27.41 and its 200-day moving average price is $29.25. The stock has a market cap of $3.26 billion, a P/E ratio of 14.75 and a beta of 0.79. First Interstate BancSystem, Inc. has a twelve month low of $22.95 and a twelve month high of $36.77. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.37.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The firm had revenue of $42.00 million during the quarter, compared to the consensus estimate of $253.50 million. First Interstate BancSystem had a return on equity of 6.57% and a net margin of 14.93%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 earnings per share. On average, equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, May 12th. This represents a $1.88 dividend on an annualized basis and a yield of 6.04%. First Interstate BancSystem's dividend payout ratio is presently 89.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FIBK shares. Wall Street Zen upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Saturday, May 10th. Keefe, Bruyette & Woods upgraded First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 price objective for the company in a research report on Monday, June 23rd. Barclays dropped their target price on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price target on shares of First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, First Interstate BancSystem presently has an average rating of "Hold" and an average price target of $34.43.

About First Interstate BancSystem

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.

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