First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 3.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 540,210 shares of the financial services provider's stock after selling 19,083 shares during the period. First Trust Advisors LP owned 0.52% of First Interstate BancSystem worth $17,541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC grew its stake in shares of First Interstate BancSystem by 18.6% during the third quarter. Barclays PLC now owns 206,213 shares of the financial services provider's stock worth $6,326,000 after acquiring an additional 32,298 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in First Interstate BancSystem by 37,734.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider's stock valued at $4,595,000 after purchasing an additional 141,128 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of First Interstate BancSystem by 38.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 14,065 shares of the financial services provider's stock worth $457,000 after buying an additional 3,929 shares during the period. KBC Group NV grew its holdings in shares of First Interstate BancSystem by 34.1% during the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider's stock valued at $130,000 after buying an additional 1,022 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of First Interstate BancSystem by 73.9% during the fourth quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider's stock valued at $50,020,000 after buying an additional 654,688 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Price Performance

FIBK stock traded up $0.67 during mid-day trading on Friday, reaching $27.32. 229,818 shares of the company's stock were exchanged, compared to its average volume of 742,890. 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, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77. The stock's 50 day moving average is $27.65 and its 200 day moving average is $31.00. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 12.47 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The business had revenue of $42.00 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the business earned $0.57 EPS. On average, research analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.88 annualized dividend and a dividend yield of 6.88%. First Interstate BancSystem's dividend payout ratio (DPR) is presently 89.10%.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the business'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 sale, the director now directly owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays lowered their price target on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Piper Sandler dropped their target price 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. Wells Fargo & Company cut their price target on shares of First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a report on Wednesday, April 9th. Stephens dropped 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 report on Friday, January 31st. Finally, StockNews.com raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $35.00.

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.