Villere ST Denis J & Co. LLC Trims Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Villere ST Denis J & Co. LLC decreased its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 530,829 shares of the financial services provider's stock after selling 10,390 shares during the quarter. Villere ST Denis J & Co. LLC owned approximately 0.51% of First Interstate BancSystem worth $15,208,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Wood Tarver Financial Group LLC purchased a new stake in shares of First Interstate BancSystem during the fourth quarter worth about $26,000. Meeder Asset Management Inc. purchased a new stake in First Interstate BancSystem during the 4th quarter valued at approximately $69,000. Covestor Ltd raised its position 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 buying an additional 510 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of First Interstate BancSystem by 826.3% during the fourth quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider's stock valued at $81,000 after buying an additional 2,231 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of First Interstate BancSystem by 1,258.8% in the first quarter. Exchange Traded Concepts LLC now owns 4,851 shares of the financial services provider's stock worth $139,000 after buying an additional 4,494 shares in the last quarter. Institutional investors own 88.71% of the company's stock.

Wall Street Analysts Forecast Growth

FIBK has been the topic of a number of research reports. Barclays reduced their price target on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods upgraded First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 price target for the company in a report on Monday, June 23rd. Wall Street Zen upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. 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 on the stock in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, First Interstate BancSystem presently has a consensus rating of "Hold" and an average target price of $34.43.

First Interstate BancSystem Trading Up 4.1%

NASDAQ:FIBK traded up $1.19 during midday trading on Tuesday, hitting $30.01. 1,053,135 shares of the company traded hands, compared to its average volume of 835,439. The firm has a market capitalization of $3.15 billion, a P/E ratio of 14.22 and a beta of 0.79. The firm's fifty day moving average is $27.29 and its 200-day moving average is $29.24. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77. The company has a current ratio of 0.77, a quick 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 data 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). First Interstate BancSystem had a return on equity of 6.57% and a net margin of 14.93%. The firm had revenue of $42.00 million during the quarter, compared to analysts' expectations of $253.50 million. During the same period last year, the company earned $0.57 earnings per share. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's dividend payout ratio is currently 89.10%.

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.