First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Aristotle Capital Boston LLC

Aristotle Capital Boston LLC lessened its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 484,197 shares of the financial services provider's stock after selling 48,458 shares during the period. Aristotle Capital Boston LLC owned about 0.46% of First Interstate BancSystem worth $15,722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC increased its position in shares of First Interstate BancSystem by 1.9% in the fourth quarter. Evergreen Capital Management LLC now owns 24,580 shares of the financial services provider's stock valued at $798,000 after buying an additional 468 shares in the last quarter. Covestor Ltd lifted its position in First Interstate BancSystem by 25.8% during the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock worth $81,000 after buying an additional 510 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of First Interstate BancSystem by 7.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,872 shares of the financial services provider's stock valued at $385,000 after acquiring an additional 807 shares during the last quarter. Swiss National Bank grew its stake in shares of First Interstate BancSystem by 0.5% in the 4th quarter. Swiss National Bank now owns 185,046 shares of the financial services provider's stock valued at $6,008,000 after buying an additional 1,000 shares during the period. Finally, KBC Group NV raised 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 valued at $130,000 after purchasing an additional 1,022 shares during the period. Institutional investors and hedge funds own 88.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FIBK shares. StockNews.com cut First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Friday. Stephens lowered their target price 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. Wells Fargo & Company reduced their price objective on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a research note on Wednesday, April 9th. DA Davidson reiterated a "buy" rating and set a $42.00 target price on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Finally, Piper Sandler dropped 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 note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, First Interstate BancSystem presently has an average rating of "Hold" and an average target price of $35.00.

Insider Buying and Selling

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction on Friday, February 14th. The shares were 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 $46,068,688.16. This 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 at this hyperlink. Corporate insiders own 8.20% of the company's stock.

First Interstate BancSystem Price Performance

NASDAQ:FIBK traded down $0.17 during mid-day trading on Tuesday, hitting $26.55. 639,748 shares of the company's stock traded hands, compared to its average volume of 654,755. 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 firm's 50 day simple moving average is $27.51 and its 200 day simple moving average is $30.91. First Interstate BancSystem, Inc. has a 1 year low of $22.95 and a 1 year high of $36.77. The company has a market cap of $2.78 billion, a PE ratio of 12.12 and a beta of 0.76.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $42.00 million during the quarter, compared to analyst estimates of $253.50 million. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. Sell-side analysts expect 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 will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, May 12th. This represents a $1.88 annualized dividend and a yield of 7.08%. First Interstate BancSystem's dividend payout ratio (DPR) is presently 89.10%.

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.