The Manufacturers Life Insurance Company Has $1.54 Million Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

The Manufacturers Life Insurance Company decreased its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 2.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 47,455 shares of the financial services provider’s stock after selling 1,264 shares during the period. The Manufacturers Life Insurance Company’s holdings in First Interstate BancSystem were worth $1,541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank lifted its holdings in First Interstate BancSystem by 0.5% in the fourth quarter. Swiss National Bank now owns 185,046 shares of the financial services provider’s stock valued at $6,008,000 after buying an additional 1,000 shares during the period. Barclays PLC lifted its holdings in First Interstate BancSystem by 18.6% in the third quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock valued at $6,326,000 after buying an additional 32,298 shares during the period. Jennison Associates LLC lifted its holdings in First Interstate BancSystem by 73.9% in 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 period. Natixis Advisors LLC acquired a new position in First Interstate BancSystem in the fourth quarter valued at $1,366,000. Finally, JPMorgan Chase & Co. lifted its holdings in First Interstate BancSystem by 3.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,936,868 shares of the financial services provider’s stock valued at $95,360,000 after buying an additional 107,774 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Trading Up 5.0%

NASDAQ:FIBK opened at $28.31 on Tuesday. 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 $27.22 and a 200-day moving average of $30.75. The company has a market cap of $2.96 billion, a PE ratio of 12.93 and a beta of 0.76. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The business had revenue of $42.00 million for the quarter, compared to the consensus estimate of $253.50 million. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. As a group, equities research analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.64%. The ex-dividend date is Monday, May 12th. First Interstate BancSystem’s payout ratio is presently 89.10%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. DA Davidson reaffirmed a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 30th. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Saturday. Stephens decreased their price target on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company decreased their price target on shares of First Interstate BancSystem from $30.00 to $25.00 and set an “underweight” rating for the company in a research note on Wednesday, April 9th. Finally, Barclays decreased their price target 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.00.

Insider Transactions at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’s stock in a transaction dated 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 directly owns 1,414,886 shares of the company’s stock, valued at $46,068,688.16. The trade was a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.20% of the stock is currently owned by insiders.

About First Interstate BancSystem

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.