Strs Ohio Acquires Shares of 11,700 First Interstate BancSystem, Inc. $FIBK

Key Points

• Strs Ohio has acquired a new position in First Interstate BancSystem, purchasing 11,700 shares valued at approximately $335,000.
• The company recently reported **earnings per share** of $0.69 for the last quarter, beating the consensus estimate of $0.57.
• First Interstate BancSystem announced a quarterly dividend of $0.47 per share, which corresponds to an annualized dividend of $1.88 and a yield of 5.7%.

Strs Ohio bought a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,700 shares of the financial services provider's stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quarry LP boosted its holdings in First Interstate BancSystem by 63.8% in the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider's stock worth $33,000 after buying an additional 450 shares during the period. Deutsche Bank AG boosted its holdings in shares of First Interstate BancSystem by 0.7% in the first quarter. Deutsche Bank AG now owns 70,065 shares of the financial services provider's stock worth $2,007,000 after acquiring an additional 455 shares during the period. Wood Tarver Financial Group LLC purchased a new position in shares of First Interstate BancSystem in the fourth quarter valued at $26,000. Evergreen Capital Management LLC raised its stake in shares of First Interstate BancSystem by 4.0% during the 1st quarter. Evergreen Capital Management LLC now owns 25,571 shares of the financial services provider's stock valued at $733,000 after purchasing an additional 991 shares during the period. Finally, JNBA Financial Advisors bought a new stake in shares of First Interstate BancSystem during the 1st quarter valued at $29,000. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Trading Up 1.6%

FIBK opened at $33.25 on Wednesday. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $36.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.74. The business has a 50 day simple moving average of $31.06 and a two-hundred day simple moving average of $28.83. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 14.98 and a beta of 0.80.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.12. First Interstate BancSystem had a return on equity of 6.82% and a net margin of 16.04%.The firm had revenue of $248.30 million for the quarter, compared to analysts' expectations of $253.73 million. During the same period in the previous year, the firm earned $0.58 earnings per share. The business's revenue was up 1.6% compared to the same quarter last year. Analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders 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 dividend yield of 5.7%. First Interstate BancSystem's payout ratio is presently 84.68%.

Analyst Ratings Changes

Several research analysts have commented on the company. Wall Street Zen downgraded First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. DA Davidson raised their price objective on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Barclays raised shares of First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $28.00 to $32.00 in a research note on Tuesday, July 8th. 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 on the stock in a research note on Monday, June 23rd. Finally, Wells Fargo & Company boosted their price target on shares of First Interstate BancSystem from $25.00 to $28.00 and gave the company an "underweight" rating in a research report on Thursday, July 10th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, First Interstate BancSystem presently has an average rating of "Hold" and a consensus target price of $34.86.

Insider Activity

In other First Interstate BancSystem news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of First Interstate BancSystem stock in a transaction that occurred on 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 sale, the insider directly owned 529,256 shares of the company's stock, valued at approximately $14,745,072.16. The trade was a 9.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John M. Heyneman, Jr. sold 11,818 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $30.18, for a total transaction of $356,667.24. Following the completion of the sale, the director owned 5,224 shares in the company, valued at approximately $157,660.32. This trade represents a 69.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,818 shares of company stock worth $3,600,017 in the last quarter. 8.20% of the stock is 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.

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