Jane Street Group LLC Has $5.77 Million Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Jane Street Group LLC boosted its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 13.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,084 shares of the financial services provider’s stock after purchasing an additional 22,899 shares during the quarter. Jane Street Group LLC’s holdings in First Interstate BancSystem were worth $5,770,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. TNF LLC raised its position in shares of First Interstate BancSystem by 1.5% in the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock valued at $812,000 after buying an additional 367 shares in the last quarter. Caprock Group LLC increased its stake in First Interstate BancSystem by 1.7% in the second quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 422 shares during the last quarter. Wrapmanager Inc. raised its position in First Interstate BancSystem by 5.0% during the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 429 shares in the last quarter. CWM LLC lifted its stake in First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 430 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings 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 valued at $311,000 after purchasing an additional 507 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. DA Davidson raised First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $32.00 to $42.00 in a report on Tuesday, November 26th. Stephens reissued an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler cut their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.17.

First Interstate BancSystem Stock Up 0.0 %

NASDAQ:FIBK opened at $34.08 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77. The firm’s 50 day simple moving average is $32.79 and its 200 day simple moving average is $30.27. The company has a market cap of $3.56 billion, a PE ratio of 14.95 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter in the prior year, the firm posted $0.70 earnings per share. On average, research analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.52%. First Interstate BancSystem’s payout ratio is 82.46%.

Insider Transactions at First Interstate BancSystem

In other news, Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the sale, the director now directly owns 958,710 shares in the company, valued at $32,768,707.80. This represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Julie A. Scott sold 22,050 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the transaction, the insider now owns 613,019 shares in the company, valued at approximately $20,720,042.20. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock worth $1,839,583 over the last ninety days. 6.90% of the stock is owned by insiders.

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.