First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock Holdings Reduced by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 66.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,663 shares of the financial services provider's stock after selling 21,116 shares during the period. BNP Paribas Financial Markets' holdings in First Interstate BancSystem were worth $346,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of First Interstate BancSystem by 35.5% in the 4th quarter. FMR LLC now owns 6,786,334 shares of the financial services provider's stock worth $220,352,000 after buying an additional 1,778,269 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of First Interstate BancSystem by 88.3% in the 4th quarter. Wellington Management Group LLP now owns 2,425,615 shares of the financial services provider's stock worth $78,760,000 after buying an additional 1,137,401 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of First Interstate BancSystem by 309.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider's stock worth $41,247,000 after buying an additional 960,372 shares in the last quarter. Norges Bank bought a new stake in shares of First Interstate BancSystem in the 4th quarter worth $24,137,000. Finally, Jennison Associates LLC raised its stake in shares of First Interstate BancSystem by 73.9% in the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider's stock worth $50,020,000 after buying an additional 654,688 shares in the last quarter. Institutional investors own 88.71% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on FIBK. Barclays dropped their price objective on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 9th. Stephens cut their target price on First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Piper Sandler cut their target price on First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Finally, Wall Street Zen raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. Two investment 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. According to data from MarketBeat, First Interstate BancSystem presently has a consensus rating of "Hold" and an average target price of $35.00.

First Interstate BancSystem Trading Down 0.5%

Shares of First Interstate BancSystem stock traded down $0.14 on Friday, reaching $27.07. 1,549,602 shares of the company were exchanged, compared to its average volume of 679,971. The stock has a fifty day moving average price of $26.80 and a 200-day moving average price of $30.28. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 12.36 and a beta of 0.76. 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, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted 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). The business had revenue of $42.00 million for 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 firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share. On average, 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 declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's payout ratio is 89.10%.

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.