First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. lowered its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 11.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,966 shares of the financial services provider’s stock after selling 1,013 shares during the period. Wrapmanager Inc.’s holdings in First Interstate BancSystem were worth $259,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FIBK. Point72 DIFC Ltd purchased a new position in First Interstate BancSystem during the third quarter worth approximately $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of First Interstate BancSystem in the 3rd quarter valued at $69,000. KBC Group NV raised its stake in shares of First Interstate BancSystem by 34.1% in the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,022 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of First Interstate BancSystem in the 3rd quarter valued at $273,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake 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 acquiring an additional 507 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

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 shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the transaction, the director now directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.90% of the stock is owned by company insiders.

First Interstate BancSystem Price Performance

FIBK opened at $30.47 on Wednesday. The company has a fifty day simple moving average of $32.38 and a 200 day simple moving average of $31.83. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 13.91 and a beta of 0.85. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

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

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.17%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio is currently 85.84%.

Wall Street Analysts Forecast Growth

FIBK has been the topic of a number of research reports. Barclays raised their target price on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research note 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 company a “market perform” rating in a research note on Wednesday, December 4th. Stephens cut their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Piper Sandler cut their target price on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and a consensus price target of $36.14.

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.