82,092 Shares in First Interstate BancSystem, Inc. (NASDAQ:FIBK) Bought by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH purchased 82,092 shares of First Interstate BancSystem, Inc., valued at approximately $2,352,000, representing around 0.08% of the company's total shares as per their recent SEC filing.
• First Interstate BancSystem reported quarterly earnings of $0.69 EPS, surpassing analysts' expectations of $0.57, with a revenue of $248.30 million.
• The company declared a quarterly dividend of $0.47 per share, reflecting an annualized yield of 6.40%, with a payout ratio of 89.1%.

Universal Beteiligungs und Servicegesellschaft mbH 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 Form 13F filing with the Securities and Exchange Commission. The fund bought 82,092 shares of the financial services provider's stock, valued at approximately $2,352,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.08% of First Interstate BancSystem as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wood Tarver Financial Group LLC bought a new position in First Interstate BancSystem in the 4th quarter worth about $26,000. JNBA Financial Advisors bought a new position in First Interstate BancSystem in the 1st quarter worth about $29,000. Meeder Asset Management Inc. bought a new position in First Interstate BancSystem in the 4th quarter worth about $69,000. Covestor Ltd grew its position in First Interstate BancSystem by 25.8% in the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock worth $81,000 after purchasing an additional 510 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in First Interstate BancSystem by 826.3% in the 4th 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.

Insider Transactions at First Interstate BancSystem

In other news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the stock in a transaction on 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 transaction, the insider owned 529,256 shares in the company, valued at $14,745,072.16. This represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

FIBK has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of First Interstate BancSystem from $25.00 to $28.00 and gave the stock an "underweight" rating in a research report on Thursday, July 10th. Wall Street Zen raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Saturday, May 10th. Barclays raised shares of First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $28.00 to $32.00 in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods raised shares of First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 price target for the company in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $35.43.

First Interstate BancSystem Trading Down 1.3%

Shares of NASDAQ:FIBK traded down $0.38 during mid-day trading on Friday, hitting $28.41. The stock had a trading volume of 1,214,189 shares, compared to its average volume of 724,838. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $2.98 billion, a PE ratio of 12.80 and a beta of 0.83. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77. The company's 50 day moving average is $28.70 and its 200-day moving average is $28.98.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.57 by $0.12. The business had revenue of $248.30 million during the quarter, compared to the consensus estimate of $253.73 million. First Interstate BancSystem had a net margin of 14.93% and a return on equity of 6.86%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. On average, sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Monday, August 11th will be given a $0.47 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.88 dividend on an annualized basis and a yield of 6.6%. First Interstate BancSystem's dividend payout ratio is presently 89.10%.

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.