Davidson Investment Advisors Has $12.81 Million Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Davidson Investment Advisors cut its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 394,656 shares of the financial services provider’s stock after selling 40,176 shares during the quarter. Davidson Investment Advisors owned about 0.38% of First Interstate BancSystem worth $12,814,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FIBK. TNF LLC lifted its position in shares of First Interstate BancSystem by 1.5% during the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock valued at $812,000 after acquiring an additional 367 shares during the period. Wrapmanager Inc. lifted its position in shares of First Interstate BancSystem by 5.0% during the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 429 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of First Interstate BancSystem by 5.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 507 shares during the period. KBC Group NV lifted its position in shares of First Interstate BancSystem by 34.1% during the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,022 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of First Interstate BancSystem during the 3rd quarter valued at $34,000. 88.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder James R. Scott, Jr. sold 6,067 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total value of $209,311.50. Following the completion of the sale, the insider now owns 75,387 shares in the company, valued at $2,600,851.50. This represents a 7.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group began coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price for the company. StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Keefe, Bruyette & Woods lifted their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, February 3rd. Finally, Piper Sandler dropped their price target on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $36.14.

First Interstate BancSystem Stock Up 0.1 %

First Interstate BancSystem stock opened at $32.69 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 12-month low of $24.16 and a 12-month high of $36.77. The firm’s fifty day moving average is $32.61 and its 200 day moving average is $31.69. The company has a market capitalization of $3.42 billion, a PE ratio of 14.93 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (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, sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.47 per share. The ex-dividend date is Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a yield of 5.75%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 85.85%.

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.