Leeward Investments LLC MA Reduces Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Leeward Investments LLC MA lessened its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 609,927 shares of the financial services provider’s stock after selling 45,774 shares during the period. First Interstate BancSystem makes up about 1.0% of Leeward Investments LLC MA’s portfolio, making the stock its 28th biggest position. Leeward Investments LLC MA owned approximately 0.58% of First Interstate BancSystem worth $19,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of FIBK. Point72 DIFC Ltd purchased a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at $69,000. KBC Group NV boosted its holdings in shares of First Interstate BancSystem by 34.1% in 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 last quarter. Point72 Asset Management L.P. purchased a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at $273,000. Finally, Wrapmanager Inc. boosted its holdings in shares of First Interstate BancSystem by 5.0% in 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 last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on FIBK. Piper Sandler decreased their target price on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. StockNews.com cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. DA Davidson reiterated a “buy” rating and issued a $42.00 target price on shares of First Interstate BancSystem in a research note on Thursday, January 30th. 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. Finally, Stephens decreased their target price 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. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and a consensus price target of $36.14.

Insider Activity at First Interstate BancSystem

In related 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 value of $43,467.60. Following the sale, the director now owns 1,414,886 shares of the company’s stock, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is owned by corporate insiders.

First Interstate BancSystem Stock Down 3.2 %

Shares of FIBK opened at $31.13 on Friday. The stock has a market capitalization of $3.25 billion, a PE ratio of 14.22 and a beta of 0.85. First Interstate BancSystem, Inc. has a 1 year low of $24.16 and a 1 year high of $36.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The company’s 50-day simple moving average is $32.45 and its 200-day simple moving average is $31.78.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share 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%. Analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued 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 6.04%. First Interstate BancSystem’s dividend payout ratio (DPR) is 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.