7,426 Shares in First Interstate BancSystem, Inc. (NASDAQ:FIBK) Purchased by Cibc World Markets Corp

Cibc World Markets Corp acquired a new stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 7,426 shares of the financial services provider’s stock, valued at approximately $241,000.

Several other large investors have also bought and sold shares of the company. Geode Capital Management LLC raised its holdings in First Interstate BancSystem by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock worth $61,152,000 after acquiring an additional 59,367 shares during the last quarter. Jennison Associates LLC raised its stake in shares of 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 worth $50,020,000 after purchasing an additional 654,688 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of First Interstate BancSystem by 6.5% during the third quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock valued at $39,522,000 after purchasing an additional 78,596 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of First Interstate BancSystem by 309.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider’s stock valued at $41,247,000 after buying an additional 960,372 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in First Interstate BancSystem by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,106,782 shares of the financial services provider’s stock worth $35,937,000 after buying an additional 32,968 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FIBK shares. Keefe, Bruyette & Woods upped their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. UBS Group initiated coverage on shares of First Interstate BancSystem in a report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. 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. Finally, Stephens reduced their price objective on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.14.

Insider Buying and Selling

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the sale, the director now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.90% of the stock is owned by company insiders.

First Interstate BancSystem Trading Down 0.4 %

Shares of First Interstate BancSystem stock opened at $29.30 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 company’s fifty day simple moving average is $31.13 and its 200-day simple moving average is $31.75. The stock has a market capitalization of $3.06 billion, a PE ratio of 13.38 and a beta of 0.84. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77.

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 the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. As a group, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.42%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 85.84%.

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.