9,629 shares in First Interstate BancSystem, Inc. (NASDAQ:FIBK) bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. acquired a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK – Free Report) during the second quarter, HoldingsChannel reports. The firm acquired 9,629 shares of the financial services provider’s stock, valued at approximately $267,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Leeward Investments LLC MA lifted its position in First Interstate BancSystem by 5.6% in the second quarter. Leeward Investments LLC MA now owns 657,946 shares of the financial services provider’s stock valued at $18,271,000 after purchasing an additional 34,817 shares during the period. SteelPeak Wealth LLC purchased a new stake in shares of First Interstate BancSystem in the second quarter valued at approximately $241,000. SG Americas Securities LLC raised its stake in shares of First Interstate BancSystem by 79.5% in the second quarter. SG Americas Securities LLC now owns 18,021 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 7,979 shares during the last quarter. CWM LLC boosted its holdings in First Interstate BancSystem by 16.0% in the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 430 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of First Interstate BancSystem in the first quarter worth $286,000. 88.71% of the shares are currently owned by institutional investors and hedge funds.

Insider buying and selling

In other news, major shareholder Julie A. Scott sold 209,831 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total transaction of $5,306,625.99. Following the sale, the insider now owns 879,869 shares in the company, valued at $22,251,887.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other First Interstate BancSystem news, Director Jonathan R. Scott sold 29,499 shares of First Interstate BancSystem stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total transaction of $746,029.71. Following the transaction, the director now directly owns 1,021,663 shares of the company’s stock, valued at $25,837,857.27. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Julie A. Scott sold 209,831 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total transaction of $5,306,625.99. Following the completion of the transaction, the insider now directly owns 879,869 shares in the company, valued at approximately $22,251,887.01. The disclosure for this sale can be found here. 6.90% of shares are owned by company insiders.

Changes in Analyst Ratings

FIBK has been the subject of a number of analyst research reports. Barclays lifted their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of 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 . Wells Fargo & Company boosted their target price on First Interstate BancSystem from $25.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Stephens lifted their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, DA Davidson boosted their price target on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $33.33, according to MarketBeat.

Check out our latest report on the first Banc Interstate system

The price performance of the first BancSystem Interstate

Shares of FIBK opened at $29.16 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78, and a current ratio of 0.78. The stock’s 50-day moving average price is $28.73 and its 200-day moving average price is $27.21. The firm has a market cap of $3.05 billion, a P/E ratio of 11.62 and a beta of 0.82. First Interstate BancSystem, Inc. has a 1-year low of $20.81 and a 1-year high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $244.30 million during the quarter, compared to analysts’ expectations of $246.07 million. First Interstate BancSystem had a return on equity of 8.22% and a net margin of 17.76%. In the same quarter last year, the business posted EPS of $0.66. On average, sell-side analysts expect that First Interstate BancSystem, Inc. to post 2.32 earnings per share for the current fiscal 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 given a dividend of $0.47 per share. This represents an annualized dividend of $1.88 and a dividend yield of 6.45%. The ex-dividend date was Monday, August 5. First Interstate BancSystem’s payout ratio is 74.90%.

About First Interstate BancSystem

(Free report)

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank which offers a wide range of banking products and services in the United States. Offers various traditional deposit products, including checking, savings and term deposits; and repurchase agreements, mainly for commercial and municipal depositors.

Featured stories

Want to see what other hedge funds FIBK owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for First Interstate BancSystem, Inc. (NASDAQ:FIBK – Free Report).

Get news and ratings for First Interstate BancSystem Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for First Interstate BancSystem and related companies with MarketBeat.com ‘s FREE daily email newsletter.