First Interstate Bancsystem Inc (NASDAQ:FIBK) CEO Kevin P. Riley purchased 1,300 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $42.09 per share, for a total transaction of $54,717.00. Following the acquisition, the chief executive officer now owns 21,930 shares in the company, valued at $923,033.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
First Interstate Bancsystem stock opened at $42.10 on Friday. First Interstate Bancsystem Inc has a 12-month low of $34.61 and a 12-month high of $43.97. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s fifty day moving average price is $42.28 and its 200 day moving average price is $39.88.
First Interstate Bancsystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.03). First Interstate Bancsystem had a return on equity of 10.21% and a net margin of 24.33%. The firm had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $167.38 million. Analysts forecast that First Interstate Bancsystem Inc will post 3.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Saturday, November 9th were paid a dividend of $0.31 per share. This is an increase from First Interstate Bancsystem’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.24 annualized dividend and a yield of 2.95%. First Interstate Bancsystem’s payout ratio is 42.47%.
A number of equities analysts have weighed in on the stock. ValuEngine upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, BidaskClub lowered shares of First Interstate Bancsystem from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.48.
A number of institutional investors have recently added to or reduced their stakes in the stock. Stephens Inc. AR increased its stake in First Interstate Bancsystem by 6.3% during the 2nd quarter. Stephens Inc. AR now owns 5,471 shares of the financial services provider’s stock worth $217,000 after buying an additional 322 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of First Interstate Bancsystem by 2.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,704 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 360 shares during the last quarter. Stone Ridge Asset Management LLC increased its position in shares of First Interstate Bancsystem by 4.9% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 8,529 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 400 shares during the last quarter. Wrapmanager Inc. increased its position in shares of First Interstate Bancsystem by 6.0% in the 2nd quarter. Wrapmanager Inc. now owns 8,817 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 501 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of First Interstate Bancsystem by 3.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 27,326 shares of the financial services provider’s stock worth $1,100,000 after purchasing an additional 835 shares during the last quarter. 49.68% of the stock is currently owned by hedge funds and other institutional investors.
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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.
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