Wrapmanager Inc. Sells 1,133 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Wrapmanager Inc. lowered its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 10.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,336 shares of the financial services provider’s stock after selling 1,133 shares during the quarter. Wrapmanager Inc.’s holdings in First Interstate BancSystem were worth $287,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC boosted its stake in First Interstate BancSystem by 132.8% during 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 last quarter. Wolverine Asset Management LLC bought a new position in shares of First Interstate BancSystem during the fourth quarter worth $39,000. CWM LLC grew its holdings 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 valued at $73,000 after buying an additional 702 shares during the period. Headlands Technologies LLC bought a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at $81,000. Finally, Signaturefd LLC raised its stake in First Interstate BancSystem by 22.0% during the 3rd quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider’s stock worth $97,000 after buying an additional 700 shares during the period. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now directly owns 20,599 shares in the company, valued at $551,229.24. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the sale, the insider now owns 6,909 shares in the company, valued at approximately $179,979.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at $551,229.24. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their target price on First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Stephens reiterated an “overweight” rating and issued a $32.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, April 25th. Piper Sandler raised their target price on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Keefe, Bruyette & Woods upped their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, Barclays raised their price objective 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, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.20.

First Interstate BancSystem Stock Down 0.5 %

NASDAQ:FIBK traded down $0.13 during trading hours on Thursday, reaching $27.73. 523,464 shares of the stock were exchanged, compared to its average volume of 805,127. The firm has a 50 day moving average of $26.31 and a 200 day moving average of $26.92. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76. The stock has a market cap of $2.88 billion, a PE ratio of 11.05 and a beta of 0.85. First Interstate BancSystem, Inc. has a twelve month low of $20.81 and a twelve month high of $32.54.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 6.78%. First Interstate BancSystem’s dividend payout ratio is 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.