UBS Group AG Buys 116,838 Shares of First Interstate BancSystem, Inc. $FIBK

Key Points

• UBS Group AG increased its stake in First Interstate BancSystem by 6.7% in Q4, buying 116,838 shares to hold 1,870,942 shares (about 1.82% of the company) valued at roughly $64.7 million.
• First Interstate declared a quarterly dividend of $0.47 per share (ex-dividend May 11, payable May 21), implying a 5.4% yield and a $1.88 annualized payout with a payout ratio of 61.24%.
• Analysts are mixed with a consensus Hold rating and a $37.33 target; the stock trades near $34.99 with a market cap of about $3.54 billion and a P/E of 11.4.

UBS Group AG boosted its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,870,942 shares of the financial services provider's stock after purchasing an additional 116,838 shares during the period. UBS Group AG owned about 1.82% of First Interstate BancSystem worth $64,735,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Horizon Corp bought a new position in First Interstate BancSystem in the 3rd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its stake in First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 862 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in First Interstate BancSystem by 1,485.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 1,500 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in First Interstate BancSystem in the 3rd quarter valued at approximately $52,000. Finally, GAMMA Investing LLC lifted its stake in First Interstate BancSystem by 49.6% in the 4th quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 516 shares during the last quarter. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Trading Down 1.3%

Shares of NASDAQ FIBK opened at $34.99 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.71. First Interstate BancSystem, Inc. has a 52-week low of $25.81 and a 52-week high of $39.26. The firm has a 50 day moving average price of $34.19 and a two-hundred day moving average price of $34.45. The stock has a market cap of $3.54 billion, a P/E ratio of 11.40 and a beta of 0.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. First Interstate BancSystem had a net margin of 28.19% and a return on equity of 9.13%. The firm had revenue of $41.10 million during the quarter, compared to analysts' expectations of $242.78 million. During the same period in the prior year, the company posted $0.49 EPS. As a group, equities analysts forecast that First Interstate BancSystem, Inc. will post 2.69 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Monday, May 11th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, May 11th. This represents a $1.88 annualized dividend and a dividend yield of 5.4%. First Interstate BancSystem's dividend payout ratio is 61.24%.

Analyst Ratings Changes

FIBK has been the subject of several research reports. Wall Street Zen raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Sunday. UBS Group increased their price objective on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the company a "sell" rating in a research note on Friday. Stephens downgraded shares of First Interstate BancSystem from an "overweight" rating to an "equal weight" rating in a research note on Thursday, February 5th. Weiss Ratings upgraded shares of First Interstate BancSystem from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $37.00 price target (down from $38.00) on shares of First Interstate BancSystem in a research report on Friday. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, First Interstate BancSystem has a consensus rating of "Hold" and a consensus target price of $37.33.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.