First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA lowered its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 7.0% during the fourth quarter, Holdings Channel reports. The firm owned 609,927 shares of the financial services provider’s stock after selling 45,774 shares during the period. First Interstate BancSystem makes up approximately 1.0% of Leeward Investments LLC MA’s investment portfolio, making the stock its 28th largest position. Leeward Investments LLC MA’s holdings in First Interstate BancSystem were worth $19,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in shares of First Interstate BancSystem by 97.0% during the third quarter. BNP Paribas Financial Markets now owns 31,779 shares of the financial services provider’s stock worth $975,000 after acquiring an additional 15,649 shares during the last quarter. Jane Street Group LLC grew its position in shares of First Interstate BancSystem by 13.9% during the third quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider’s stock worth $5,770,000 after acquiring an additional 22,899 shares during the last quarter. Barclays PLC grew its position in shares of First Interstate BancSystem by 18.6% during the third quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock worth $6,326,000 after acquiring an additional 32,298 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of First Interstate BancSystem by 37,734.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider’s stock worth $4,595,000 after acquiring an additional 141,128 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of First Interstate BancSystem by 73.9% during the fourth quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock worth $50,020,000 after acquiring an additional 654,688 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FIBK. UBS Group began coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price on the stock. Barclays raised their target price on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods raised their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens lowered their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Piper Sandler lowered their price objective on shares of 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. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.14.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $31.13 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 debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The business has a fifty day moving average of $32.45 and a two-hundred day moving average of $31.78. The company has a market cap of $3.25 billion, a P/E ratio of 14.22 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating 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%. As a group, analysts predict that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal 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 issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 85.84%.

Insider Buying and Selling at First Interstate BancSystem

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 value 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 approximately $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 can be accessed through the SEC website. 6.90% of the stock is owned by corporate insiders.

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.