Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Wealth Enhancement Advisory Services LLC grew its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 20.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,874 shares of the financial services provider’s stock after purchasing an additional 2,169 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in First Interstate BancSystem were worth $395,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Mount Yale Investment Advisors LLC purchased a new position in First Interstate BancSystem during the third quarter valued at approximately $311,000. Hennion & Walsh Asset Management Inc. raised its position in shares of First Interstate BancSystem by 5.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 507 shares in the last quarter. Altus Wealth Group LLC lifted its stake in shares of First Interstate BancSystem by 21.4% during the 3rd quarter. Altus Wealth Group LLC now owns 24,512 shares of the financial services provider’s stock worth $752,000 after purchasing an additional 4,316 shares during the last quarter. Telos Capital Management Inc. bought a new stake in First Interstate BancSystem during the third quarter valued at about $201,000. Finally, Creative Planning boosted its position in First Interstate BancSystem by 23.0% during the third quarter. Creative Planning now owns 30,033 shares of the financial services provider’s stock valued at $921,000 after purchasing an additional 5,618 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FIBK. Stephens reiterated an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a report on Thursday, October 10th. Piper Sandler decreased their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods increased their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and a consensus target price of $32.50.

First Interstate BancSystem Trading Up 0.5 %

Shares of First Interstate BancSystem stock opened at $32.77 on Friday. First Interstate BancSystem, Inc. has a 12-month low of $22.89 and a 12-month high of $34.53. The firm’s 50 day simple moving average is $30.75 and its two-hundred day simple moving average is $29.07. The company has a current ratio of 0.78, a quick ratio of 0.79 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 14.37 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same period last year, the company earned $0.70 earnings per share. Analysts predict that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend is Monday, November 4th. First Interstate BancSystem’s payout ratio is 82.46%.

About First Interstate BancSystem

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.