Deutsche Bank AG Sells 43,837 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Deutsche Bank AG cut its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,610 shares of the financial services provider's stock after selling 43,837 shares during the period. Deutsche Bank AG owned about 0.07% of First Interstate BancSystem worth $2,260,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FIBK. Meeder Asset Management Inc. purchased a new stake in shares of First Interstate BancSystem in the fourth quarter valued at about $69,000. Covestor Ltd grew its position in First Interstate BancSystem by 25.8% in the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock worth $81,000 after purchasing an additional 510 shares in the last quarter. Sterling Capital Management LLC increased its stake in First Interstate BancSystem by 826.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider's stock valued at $81,000 after buying an additional 2,231 shares during the last quarter. KBC Group NV increased its stake in 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 buying an additional 1,022 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of First Interstate BancSystem during the 4th quarter worth approximately $208,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Stock Performance

FIBK stock traded down $0.17 during midday trading on Wednesday, reaching $27.07. 96,035 shares of the company's stock traded hands, compared to its average volume of 756,236. The firm has a market capitalization of $2.84 billion, a PE ratio of 12.37 and a beta of 0.76. The company has a 50-day moving average price of $26.93 and a two-hundred day moving average price of $30.42. First Interstate BancSystem, Inc. has a 52 week low of $22.95 and a 52 week 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.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly 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). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The company had revenue of $42.00 million for the quarter, compared to the consensus estimate of $253.50 million. During the same quarter in the prior year, the company earned $0.57 earnings per share. The company's quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's dividend payout ratio (DPR) is presently 89.10%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FIBK. Wells Fargo & Company decreased their target price on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a research report on Wednesday, April 9th. Stephens decreased 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. Piper Sandler dropped 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. Wall Street Zen raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. Finally, Barclays decreased their price target on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, First Interstate BancSystem has an average rating of "Hold" and a consensus price target of $35.00.

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.