First Interstate BancSystem, Inc. (NASDAQ:FIBK) Holdings Trimmed by Millennium Management LLC

Millennium Management LLC trimmed its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 36.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 866,017 shares of the financial services provider's stock after selling 506,702 shares during the period. Millennium Management LLC owned 0.83% of First Interstate BancSystem worth $28,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Evergreen Capital Management LLC boosted its holdings 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 during the period. Covestor Ltd lifted its holdings in shares of First Interstate BancSystem by 25.8% in 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 stake in shares of First Interstate BancSystem by 7.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,872 shares of the financial services provider's stock valued at $385,000 after purchasing an additional 807 shares during the period. Swiss National Bank increased its holdings in shares of First Interstate BancSystem by 0.5% during the fourth quarter. Swiss National Bank now owns 185,046 shares of the financial services provider's stock valued at $6,008,000 after acquiring an additional 1,000 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of First Interstate BancSystem by 34.1% during the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider's stock valued at $130,000 after acquiring an additional 1,022 shares during the period. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock traded up $0.14 during midday trading on Friday, hitting $26.61. The company had a trading volume of 1,024,997 shares, compared to its average volume of 671,035. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 12.15 and a beta of 0.76. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $27.01 and a 200 day simple moving average of $30.49. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The company had revenue of $42.00 million for the quarter, compared to analysts' expectations of $253.50 million. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 EPS. As a group, analysts predict that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, May 12th. This represents a $1.88 annualized dividend and a yield of 7.07%. First Interstate BancSystem's payout ratio is currently 89.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays lowered their target price on 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. Wall Street Zen upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Saturday, May 10th. Piper Sandler decreased their price target 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. Stephens lowered their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Finally, DA Davidson reaffirmed a "buy" rating and set a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $35.00.

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.