First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. reduced its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.0% in the fourth quarter, HoldingsChannel reports. The fund owned 697,916 shares of the financial services provider’s stock after selling 7,070 shares during the quarter. Bahl & Gaynor Inc.’s holdings in First Interstate BancSystem were worth $21,461,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its stake in shares of First Interstate BancSystem by 132.8% in the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 530 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of First Interstate BancSystem in the 4th quarter worth approximately $39,000. CWM LLC lifted its stake in shares of First Interstate BancSystem by 42.1% in the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 702 shares during the period. Headlands Technologies LLC acquired a new stake in shares of First Interstate BancSystem in the 3rd quarter worth approximately $81,000. Finally, Signaturefd LLC lifted its stake in shares of First Interstate BancSystem by 22.0% in the 3rd quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 700 shares during the period. 88.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the sale, the insider now owns 6,909 shares in the company, valued at $179,979.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the transaction, the insider now directly owns 6,909 shares of the company’s stock, valued at $179,979.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kristina Robbins sold 2,710 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the transaction, the executive vice president now directly owns 9,047 shares in the company, valued at $233,684.01. The disclosure for this sale can be found here. Insiders have sold 7,531 shares of company stock worth $197,645 over the last 90 days. 6.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. TheStreet lowered shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. Wells Fargo & Company upped their price target on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Barclays boosted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday. Stephens reiterated an “overweight” rating and issued a $32.00 target price on shares of First Interstate BancSystem in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, First Interstate BancSystem has an average rating of “Hold” and a consensus price target of $29.20.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK traded up $0.05 during midday trading on Friday, reaching $27.00. The company’s stock had a trading volume of 511,803 shares, compared to its average volume of 830,670. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average price of $26.10 and a 200 day moving average price of $26.68. First Interstate BancSystem, Inc. has a one year low of $20.81 and a one year high of $32.54. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 10.76 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. The business had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. On average, equities research analysts expect that First Interstate BancSystem, Inc. will post 2.17 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.47 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.96%. First Interstate BancSystem’s dividend payout ratio is currently 74.90%.

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.