SteelPeak Wealth LLC Trims Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

SteelPeak Wealth LLC cut its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 10.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,821 shares of the financial services provider’s stock after selling 867 shares during the period. SteelPeak Wealth LLC’s holdings in First Interstate BancSystem were worth $240,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of First Interstate BancSystem by 20.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,874 shares of the financial services provider’s stock valued at $395,000 after buying an additional 2,169 shares during the period. Mount Yale Investment Advisors LLC purchased a new position in shares of First Interstate BancSystem during the third quarter valued at approximately $311,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of First Interstate BancSystem by 5.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after buying an additional 507 shares during the period. Altus Wealth Group LLC increased its stake in shares of First Interstate BancSystem by 21.4% during the third quarter. Altus Wealth Group LLC now owns 24,512 shares of the financial services provider’s stock valued at $752,000 after buying an additional 4,316 shares during the period. Finally, Telos Capital Management Inc. purchased a new stake in First Interstate BancSystem in the third quarter worth $201,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Trading Down 0.1 %

First Interstate BancSystem stock opened at $30.78 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92. The business’s fifty day simple moving average is $30.64 and its two-hundred day simple moving average is $28.81. First Interstate BancSystem, Inc. has a 12 month low of $22.89 and a 12 month high of $33.00. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 13.50 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 17.22% and a return on equity of 7.57%. During the same period in the previous year, the firm earned $0.70 EPS. As a group, equities analysts predict that First Interstate BancSystem, Inc. will post 2.29 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 6.11%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 82.46%.

Analyst Upgrades and Downgrades

FIBK has been the topic of several recent research reports. StockNews.com cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. DA Davidson upped their price target on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods upped their price target on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Piper Sandler reduced their price target on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.50.

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.