First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 106.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,542 shares of the financial services provider’s stock after purchasing an additional 18,338 shares during the period. Intech Investment Management LLC’s holdings in First Interstate BancSystem were worth $1,154,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in First Interstate BancSystem in the third quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in First Interstate BancSystem in the third quarter valued at approximately $69,000. KBC Group NV grew its holdings in First Interstate BancSystem by 34.1% in the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,022 shares during the period. Cibc World Markets Corp acquired a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $241,000. Finally, FourThought Financial Partners LLC acquired a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $242,000. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock opened at $28.70 on Friday. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 13.11 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The business’s 50 day moving average price is $31.20 and its 200 day moving average price is $31.74.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. On average, research analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 6.55%. First Interstate BancSystem’s dividend payout ratio (DPR) is 85.84%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Piper Sandler decreased their target price on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Barclays raised their target price on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. UBS Group assumed coverage on First Interstate BancSystem in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, First Interstate BancSystem has an average rating of “Hold” and a consensus price target of $36.14.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the sale, the director now owns 1,414,886 shares of the company’s stock, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.