BNP Paribas Financial Markets Sells 21,116 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

BNP Paribas Financial Markets trimmed its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 66.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of First Interstate BancSystem by 35.5% in the fourth quarter. FMR LLC now owns 6,786,334 shares of the financial services provider's stock valued at $220,352,000 after buying an additional 1,778,269 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of First Interstate BancSystem by 88.3% in the fourth quarter. Wellington Management Group LLP now owns 2,425,615 shares of the financial services provider's stock valued at $78,760,000 after purchasing an additional 1,137,401 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of First Interstate BancSystem by 309.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider's stock valued at $41,247,000 after purchasing an additional 960,372 shares during the period. Norges Bank acquired a new stake in shares of First Interstate BancSystem during the 4th quarter worth about $24,137,000. Finally, Jennison Associates LLC boosted its holdings in shares of First Interstate BancSystem by 73.9% during 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 during the period. 88.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FIBK shares. Barclays lowered their target price 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. 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. 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. DA Davidson reaffirmed a "buy" rating and set a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. Finally, Stephens cut their price target on First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, First Interstate BancSystem has a consensus rating of "Hold" and a consensus target price of $35.00.

First Interstate BancSystem Price Performance

Shares of FIBK stock traded down $0.13 during trading on Friday, hitting $27.08. The company had a trading volume of 270,355 shares, compared to its average volume of 674,365. 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 has a market capitalization of $2.84 billion, a P/E ratio of 12.36 and a beta of 0.76. The stock's 50-day moving average price is $26.85 and its 200 day moving average price is $30.35. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $36.77.

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

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's dividend payout ratio 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.