Two Sigma Investments LP Sells 86,021 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Two Sigma Investments LP decreased its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 36.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,977 shares of the financial services provider's stock after selling 86,021 shares during the quarter. Two Sigma Investments LP owned 0.14% of First Interstate BancSystem worth $4,772,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. OMERS ADMINISTRATION Corp acquired a new position in First Interstate BancSystem during the fourth quarter worth about $360,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in First Interstate BancSystem by 4.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,160 shares of the financial services provider's stock worth $1,466,000 after acquiring an additional 2,066 shares in the last quarter. Janus Henderson Group PLC raised its stake in First Interstate BancSystem by 15.2% during the fourth quarter. Janus Henderson Group PLC now owns 44,817 shares of the financial services provider's stock worth $1,455,000 after acquiring an additional 5,900 shares in the last quarter. FJ Capital Management LLC acquired a new position in First Interstate BancSystem during the fourth quarter worth about $19,960,000. Finally, Captrust Financial Advisors acquired a new position in First Interstate BancSystem during the fourth quarter worth about $208,000. Institutional investors and hedge funds own 88.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FIBK shares. Stephens lowered their target price 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. Barclays reduced their price target on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Piper Sandler reduced their price target on First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $35.00.

First Interstate BancSystem Trading Down 0.5%

FIBK stock traded down $0.14 during trading on Friday, hitting $27.07. The company had a trading volume of 1,549,602 shares, compared to its average volume of 680,709. The business has a 50-day moving average of $26.80 and a 200-day moving average of $30.31. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $36.77. The stock has a market cap of $2.84 billion, a PE 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 (NASDAQ:FIBK - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 EPS 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 during the quarter, compared to the consensus estimate of $253.50 million. During the same quarter in the previous year, the company earned $0.57 earnings per share. The business's revenue was up 2.0% on a year-over-year basis. Research 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 announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.94%. The ex-dividend date was Monday, May 12th. First Interstate BancSystem's 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.