BW Gestao de Investimentos Ltda. Invests $2.08 Million in First Interstate BancSystem, Inc. $FIBK

Key Points

• BW Gestao de Investimentos Ltda. opened a new position in First Interstate BancSystem, buying 60,000 shares worth about $2.08 million in the fourth quarter.
• Institutional ownership remains high, with 88.71% of the stock held by institutions, and several other funds also made small increases to their positions.
• Analysts are broadly cautious on FIBK: the stock currently carries a Hold consensus rating with an average price target of $37, while recent reports included both downgrades and lowered targets.

BW Gestao de Investimentos Ltda. purchased a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 60,000 shares of the financial services provider's stock, valued at approximately $2,076,000. BW Gestao de Investimentos Ltda. owned about 0.06% of First Interstate BancSystem as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Northern Capital Management Inc. grew its position in shares of First Interstate BancSystem by 0.5% in the 4th quarter. Northern Capital Management Inc. now owns 52,100 shares of the financial services provider's stock valued at $1,803,000 after buying an additional 275 shares during the last quarter. HighTower Advisors LLC grew its position in shares of First Interstate BancSystem by 2.7% in the 4th quarter. HighTower Advisors LLC now owns 14,177 shares of the financial services provider's stock valued at $491,000 after buying an additional 375 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of First Interstate BancSystem by 0.4% in the 3rd quarter. Alliancebernstein L.P. now owns 108,600 shares of the financial services provider's stock valued at $3,461,000 after buying an additional 397 shares during the last quarter. First Horizon Corp grew its position in shares of First Interstate BancSystem by 56.0% in the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider's stock valued at $44,000 after buying an additional 455 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of First Interstate BancSystem by 49.6% in the 4th quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider's stock valued at $54,000 after buying an additional 516 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FIBK has been the topic of several research reports. DA Davidson downgraded shares of First Interstate BancSystem from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $41.00 to $39.00 in a research report on Wednesday, May 27th. Wall Street Zen raised shares of First Interstate BancSystem from a "strong sell" rating to a "sell" rating in a research report on Tuesday, May 19th. Piper Sandler reduced their target price on shares of First Interstate BancSystem from $44.00 to $41.00 and set an "overweight" rating for the company in a research note on Thursday, April 2nd. Wells Fargo & Company raised their target price on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the stock an "underweight" rating in a research note on Monday, March 30th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $37.00 target price (down from $38.00) on shares of First Interstate BancSystem in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $37.00.

First Interstate BancSystem Stock Performance

Shares of FIBK opened at $35.22 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock has a market cap of $3.42 billion, a P/E ratio of 11.47 and a beta of 0.76. The company has a 50-day moving average of $34.50 and a two-hundred day moving average of $34.97. First Interstate BancSystem, Inc. has a 12-month low of $25.81 and a 12-month high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. The company had revenue of $5.10 million during the quarter, compared to analysts' expectations of $242.78 million. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.13%. During the same quarter in the previous year, the business posted $0.49 earnings per share. As a group, research analysts predict that First Interstate BancSystem, Inc. will post 2.66 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a dividend of $0.47 per share. The ex-dividend date was Monday, May 11th. This represents a $1.88 dividend on an annualized basis and a yield of 5.3%. First Interstate BancSystem's payout ratio is presently 61.24%.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.

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