Legal & General Group Plc Has $3.26 Million Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Legal & General Group Plc trimmed its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,338 shares of the financial services provider’s stock after selling 4,537 shares during the quarter. Legal & General Group Plc owned about 0.10% of First Interstate BancSystem worth $3,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in FIBK. FMR LLC lifted its stake in First Interstate BancSystem by 35.5% in the fourth quarter. FMR LLC now owns 6,786,334 shares of the financial services provider’s stock valued at $220,352,000 after buying an additional 1,778,269 shares during the period. Cullen Capital Management LLC increased its stake in shares of First Interstate BancSystem by 12.9% in the 4th quarter. Cullen Capital Management LLC now owns 18,056 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 2,069 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of First Interstate BancSystem by 5.1% during the 4th quarter. Wells Fargo & Company MN now owns 141,032 shares of the financial services provider’s stock valued at $4,579,000 after acquiring an additional 6,867 shares during the period. ExodusPoint Capital Management LP boosted its stake in First Interstate BancSystem by 97.2% during the fourth quarter. ExodusPoint Capital Management LP now owns 371,290 shares of the financial services provider’s stock worth $12,056,000 after acquiring an additional 182,993 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in First Interstate BancSystem by 2.7% in the fourth quarter. Franklin Resources Inc. now owns 5,474,757 shares of the financial services provider’s stock valued at $177,765,000 after purchasing an additional 145,842 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $26.82 on Wednesday. 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 firm has a 50-day moving average of $28.29 and a 200-day moving average of $31.13. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $36.77. The company has a market cap of $2.80 billion, a P/E ratio of 12.25 and a beta of 0.81.

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

First Interstate BancSystem Dividend Announcement

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

Insider Buying and Selling at First Interstate BancSystem

In other 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 shares were 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FIBK. Barclays cut their price objective on shares of First Interstate BancSystem from $31.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. DA Davidson reaffirmed a “buy” rating and set a $42.00 target price on shares of First Interstate BancSystem in a research report on Thursday, January 30th. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Piper Sandler lowered their price objective on shares of 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, Stephens reduced their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company 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.