Davidson Investment Advisors reduced its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK – Free Report) by 9.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 394,656 shares of the financial services provider’s stock after selling 40,176 shares during the period. Davidson Investment Advisors’ holdings in First Interstate BancSystem were worth $12,814,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the stock. TNF LLC grew its position in First Interstate BancSystem by 1.5% during the third 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 during the period. Wrapmanager Inc. grew 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 buying an additional 429 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in 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 purchasing an additional 507 shares during the period. KBC Group NV increased its position 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 worth $130,000 after buying an additional 1,022 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of First Interstate BancSystem in the third quarter valued at $34,000. Institutional investors own 88.71% of the company’s stock.
First Interstate BancSystem Trading Up 0.1 %
Shares of NASDAQ FIBK opened at $32.69 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $3.42 billion, a P/E ratio of 14.93 and a beta of 0.85. First Interstate BancSystem, Inc. has a 1 year low of $24.16 and a 1 year high of $36.77. The firm has a 50-day moving average of $32.61 and a 200 day moving average of $31.69.
First Interstate BancSystem Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 10th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 5.75%. First Interstate BancSystem’s dividend payout ratio (DPR) is 85.85%.
Insider Activity at First Interstate BancSystem
In other news, major shareholder James R. Scott, Jr. sold 6,067 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total value of $209,311.50. Following the sale, the insider now owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. This represents a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.90% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of analysts recently commented on FIBK shares. Wells Fargo & Company upped their price target on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Stephens cut their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Piper Sandler cut their price objective on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.14.
Get Our Latest Analysis on First Interstate BancSystem
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.
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