First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 97.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,779 shares of the financial services provider’s stock after buying an additional 15,649 shares during the period. BNP Paribas Financial Markets’ holdings in First Interstate BancSystem were worth $975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FIBK. Dimensional Fund Advisors LP grew its holdings in shares of First Interstate BancSystem by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock worth $127,204,000 after purchasing an additional 367,212 shares during the last quarter. Empower Advisory Group LLC grew its holdings in shares of First Interstate BancSystem by 4.8% during the third quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock worth $14,318,000 after purchasing an additional 21,191 shares during the last quarter. Versor Investments LP purchased a new position in shares of First Interstate BancSystem during the third quarter worth about $914,000. CWM LLC grew its holdings in shares of First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 430 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in shares of First Interstate BancSystem by 1,115.4% during the third quarter. Quest Partners LLC now owns 82,998 shares of the financial services provider’s stock worth $2,546,000 after purchasing an additional 76,169 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 22,050 shares of First Interstate BancSystem stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the sale, the insider now directly owns 613,019 shares in the company, valued at approximately $20,720,042.20. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the sale, the insider now owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,837 shares of company stock valued at $1,839,583. 6.90% of the stock is owned by corporate insiders.

First Interstate BancSystem Stock Performance

NASDAQ FIBK opened at $33.95 on Wednesday. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.77. The business’s 50-day moving average price is $32.51 and its 200 day moving average price is $30.13. The firm has a market cap of $3.55 billion, a P/E ratio of 14.89 and a beta of 0.84. 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 (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same period in the previous year, the business posted $0.70 earnings per share. On average, equities research analysts expect that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Monday, November 4th. First Interstate BancSystem’s dividend payout ratio is presently 82.46%.

Analysts Set New Price Targets

Several equities analysts have issued reports on FIBK shares. Stephens reaffirmed an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a report on Thursday, October 10th. Barclays raised their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Wells Fargo & Company raised their price objective on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Piper Sandler lowered their price target on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, DA Davidson raised First Interstate BancSystem from a “neutral” rating to a “buy” rating and raised their price target for the stock from $32.00 to $42.00 in a report on Tuesday, November 26th. Two 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 company. Based on data from MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and a consensus price target of $35.17.

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.