First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock Holdings Boosted by Sterling Capital Management LLC

Sterling Capital Management LLC grew its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 826.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,501 shares of the financial services provider’s stock after purchasing an additional 2,231 shares during the quarter. Sterling Capital Management LLC’s holdings in First Interstate BancSystem were worth $81,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of FIBK. FMR LLC grew its holdings in First Interstate BancSystem by 35.5% during the fourth quarter. FMR LLC now owns 6,786,334 shares of the financial services provider’s stock worth $220,352,000 after acquiring an additional 1,778,269 shares during the period. Wellington Management Group LLP boosted its position in shares of First Interstate BancSystem by 88.3% during the 4th quarter. Wellington Management Group LLP now owns 2,425,615 shares of the financial services provider’s stock valued at $78,760,000 after purchasing an additional 1,137,401 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of First Interstate BancSystem by 309.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider’s stock valued at $41,247,000 after purchasing an additional 960,372 shares in the last quarter. Norges Bank acquired a new position in shares of First Interstate BancSystem in the 4th quarter worth approximately $24,137,000. Finally, Jennison Associates LLC raised its holdings 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 worth $50,020,000 after purchasing an additional 654,688 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Trading Up 3.2 %

NASDAQ:FIBK opened at $26.82 on Wednesday. The stock has a market cap of $2.80 billion, a PE ratio of 12.25 and a beta of 0.81. First Interstate BancSystem, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $36.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s 50-day moving average is $28.29 and its two-hundred day moving average is $31.13.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. As a group, equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 7.01%. First Interstate BancSystem’s dividend payout ratio is 85.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays cut their price objective 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. Stephens reduced their target price 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. Piper Sandler dropped their price target on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. DA Davidson reaffirmed a “buy” rating and set a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Two equities 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 stock. According to data from MarketBeat, First Interstate BancSystem has an average rating of “Hold” and a consensus target price of $35.00.

Insider Activity at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction dated 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 $46,068,688.16. The trade was a 0.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.90% of the company’s stock.

First Interstate BancSystem Company 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.