JCSD Capital LLC purchased a new stake in First Interstate Bancsystem Inc (NASDAQ:FIBK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 103,199 shares of the financial services provider’s stock, valued at approximately $4,623,000. First Interstate Bancsystem accounts for about 2.9% of JCSD Capital LLC’s holdings, making the stock its 13th biggest position. JCSD Capital LLC owned 0.18% of First Interstate Bancsystem as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in shares of First Interstate Bancsystem in the 3rd quarter worth about $202,000. Stifel Financial Corp bought a new stake in shares of First Interstate Bancsystem in the 1st quarter worth about $223,000. Ramsey Quantitative Systems bought a new stake in shares of First Interstate Bancsystem in the 2nd quarter worth about $320,000. Xact Kapitalforvaltning AB grew its holdings in shares of First Interstate Bancsystem by 40.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 7,630 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of First Interstate Bancsystem by 25.7% in the 1st quarter. Barclays PLC now owns 8,678 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 1,777 shares during the last quarter. 50.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:FIBK opened at $41.98 on Wednesday. First Interstate Bancsystem Inc has a 12 month low of $36.00 and a 12 month high of $47.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 1.57 and a beta of 1.10.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Friday, November 9th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, November 8th. First Interstate Bancsystem’s dividend payout ratio is currently 55.72%.
In other First Interstate Bancsystem news, Director John M. Heyneman, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $41.87, for a total transaction of $41,870.00. Following the sale, the director now owns 3,621 shares of the company’s stock, valued at approximately $151,611.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ross E. Leckie sold 4,000 shares of the stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $45.91, for a total transaction of $183,640.00. Following the sale, the director now directly owns 17,599 shares in the company, valued at approximately $807,970.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,000 shares of company stock worth $300,210. Insiders own 40.23% of the company’s stock.
Several research firms have recently weighed in on FIBK. BidaskClub raised shares of First Interstate Bancsystem from a “buy” rating to a “strong-buy” rating in a report on Friday, September 7th. Robert W. Baird began coverage on shares of First Interstate Bancsystem in a report on Tuesday, October 16th. They issued an “outperform” rating and a $52.00 target price on the stock. Zacks Investment Research raised shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Monday, July 30th. Barclays reaffirmed a “buy” rating and issued a $48.00 target price on shares of First Interstate Bancsystem in a report on Sunday, July 29th. Finally, DA Davidson upped their target price on shares of First Interstate Bancsystem from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $48.33.
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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.
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