Ashton Thomas Private Wealth LLC Sells 11,922 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Ashton Thomas Private Wealth LLC trimmed its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 13.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 79,564 shares of the financial services provider’s stock after selling 11,922 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in First Interstate BancSystem were worth $2,210,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in shares of First Interstate BancSystem by 205.3% in the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 856 shares in the last quarter. CWM LLC lifted its stake in First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 430 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in First Interstate BancSystem by 28.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 744 shares in the last quarter. Innealta Capital LLC bought a new position in First Interstate BancSystem during the 2nd quarter valued at $106,000. Finally, nVerses Capital LLC lifted its stake in First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 3,300 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Trading Up 1.1 %

Shares of FIBK opened at $29.68 on Tuesday. The business has a 50-day moving average of $29.68 and a 200 day moving average of $27.58. First Interstate BancSystem, Inc. has a fifty-two week low of $20.81 and a fifty-two week high of $33.00. The firm has a market cap of $3.10 billion, a P/E ratio of 11.86 and a beta of 0.82. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.79 and a current ratio of 0.79.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.03. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. The company had revenue of $244.30 million during the quarter, compared to analyst estimates of $246.07 million. During the same quarter last year, the firm posted $0.66 EPS. As a group, research analysts forecast that First Interstate BancSystem, Inc. will post 2.34 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.33%. The ex-dividend date was Monday, August 5th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 74.90%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FIBK. DA Davidson raised their target price on First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 target price on shares of First Interstate BancSystem in a research report on Monday, August 26th. Finally, Stephens raised their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.33.

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.