Tudor Investment Corp ET AL Has $3.07 Million Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Tudor Investment Corp ET AL cut its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 26.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 94,539 shares of the financial services provider's stock after selling 34,289 shares during the quarter. Tudor Investment Corp ET AL owned about 0.09% of First Interstate BancSystem worth $3,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FIBK. Meeder Asset Management Inc. acquired a new stake in shares of First Interstate BancSystem in the fourth quarter valued at $69,000. Covestor Ltd grew its holdings in shares of First Interstate BancSystem by 25.8% during the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after acquiring an additional 510 shares in the last quarter. Sterling Capital Management LLC increased its position in First Interstate BancSystem by 826.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider's stock worth $81,000 after purchasing an additional 2,231 shares during the last quarter. KBC Group NV increased its holdings in First Interstate BancSystem by 34.1% in the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider's stock worth $130,000 after buying an additional 1,022 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in First Interstate BancSystem during the fourth quarter worth $241,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FIBK. Barclays reduced their price objective on shares of 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. StockNews.com downgraded First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Friday. 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 report on Friday, January 31st. Wells Fargo & Company reduced their price objective on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a research report on Wednesday, April 9th. Finally, Piper Sandler dropped their target price on shares of 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. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $35.00.

Insider Buying and Selling at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the transaction, the director now owns 1,414,886 shares in the company, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.20% of the company's stock.

First Interstate BancSystem Stock Performance

Shares of FIBK traded down $0.17 on Tuesday, reaching $26.55. 639,748 shares of the stock traded hands, compared to its average volume of 654,056. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 12.12 and a beta of 0.76. First Interstate BancSystem, Inc. has a 12 month low of $22.95 and a 12 month high of $36.77. The stock's 50-day moving average price is $27.51 and its 200-day moving average price is $30.91. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

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

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend is 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.