2,128 Shares in First Interstate BancSystem, Inc. (NASDAQ:FIBK) Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. bought a new stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,128 shares of the financial services provider’s stock, valued at approximately $69,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of First Interstate BancSystem by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider’s stock valued at $299,691,000 after acquiring an additional 587,975 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in First Interstate BancSystem by 3.8% during 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 purchasing an additional 107,774 shares during the last quarter. Wellington Management Group LLP raised its position in shares of First Interstate BancSystem by 88.3% in the fourth 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 during the period. Geode Capital Management LLC lifted its stake in shares of First Interstate BancSystem by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock worth $61,152,000 after buying an additional 59,367 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of First Interstate BancSystem by 73.9% during the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock worth $50,020,000 after buying an additional 654,688 shares during the period. 88.71% of the stock is owned by institutional investors.

First Interstate BancSystem Stock Down 0.9 %

Shares of FIBK stock opened at $28.38 on Wednesday. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year 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 has a fifty day moving average price of $30.75 and a 200 day moving average price of $31.72. The stock has a market cap of $2.97 billion, a P/E ratio of 12.96 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping 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%. Analysts predict that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a $0.47 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 6.62%. First Interstate BancSystem’s dividend payout ratio is currently 85.84%.

Wall Street Analyst Weigh In

Several research analysts recently commented on FIBK shares. Piper Sandler dropped their target price 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. Stephens cut 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. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. DA Davidson reiterated a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 30th. Finally, Wells Fargo & Company raised their price objective on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.14.

Insider Transactions at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the 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 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 through the SEC website. 6.90% of the stock is currently owned by insiders.

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.