Nuveen Asset Management LLC Has $35.83 Million Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Nuveen Asset Management LLC lessened its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,103,541 shares of the financial services provider's stock after selling 250,693 shares during the period. Nuveen Asset Management LLC owned about 1.06% of First Interstate BancSystem worth $35,832,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FIBK. FMR LLC grew its holdings in shares of First Interstate BancSystem by 35.5% during the 4th quarter. FMR LLC now owns 6,786,334 shares of the financial services provider's stock valued at $220,352,000 after purchasing an additional 1,778,269 shares during the last quarter. Wellington Management Group LLP boosted its position in 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 buying an additional 1,137,401 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of First Interstate BancSystem by 309.9% during the fourth 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 during the last quarter. Norges Bank acquired a new position in shares of First Interstate BancSystem during the fourth quarter worth $24,137,000. Finally, Jennison Associates LLC lifted 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 valued at $50,020,000 after acquiring an additional 654,688 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FIBK. Piper Sandler reduced their price objective 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. DA Davidson restated a "buy" rating and set a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 30th. Wall Street Zen upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Stephens cut their target price on shares of 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. Finally, Barclays reduced their target price on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the 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 Trading Up 0.5%

NASDAQ:FIBK traded up $0.14 on Monday, reaching $26.61. 1,024,997 shares of the stock traded hands, compared to its average volume of 671,035. 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 1-year low of $22.95 and a 1-year high of $36.77. The company's 50 day moving average is $27.01 and its 200-day moving average is $30.49. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 12.15 and a beta of 0.76.

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 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $42.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share. Equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's dividend 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.