First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Purchased by KBC Group NV

KBC Group NV raised its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 34.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,018 shares of the financial services provider’s stock after acquiring an additional 1,022 shares during the quarter. KBC Group NV’s holdings in First Interstate BancSystem were worth $130,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of FIBK. AQR Capital Management LLC acquired a new position in shares of First Interstate BancSystem in the 2nd quarter valued at $242,000. The Manufacturers Life Insurance Company grew its position in First Interstate BancSystem by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock valued at $1,370,000 after buying an additional 598 shares during the period. Algert Global LLC purchased a new position in First Interstate BancSystem in the second quarter valued at $261,000. Creative Planning raised its position in shares of First Interstate BancSystem by 11.6% in the second quarter. Creative Planning now owns 24,415 shares of the financial services provider’s stock worth $678,000 after acquiring an additional 2,545 shares during the period. Finally, CWM LLC boosted its stake in shares of First Interstate BancSystem by 65.0% during the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 2,029 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 0.6 %

Shares of FIBK opened at $33.23 on Friday. The stock has a 50 day moving average price of $32.92 and a 200 day moving average price of $31.63. 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 stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 15.17 and a beta of 0.85. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 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%. Equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.54 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date is Monday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is 85.85%.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was 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 directly owns 75,387 shares of the company’s stock, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Julie A. Scott sold 22,050 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the transaction, the insider now directly owns 613,019 shares in the company, valued at approximately $20,720,042.20. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,617 shares of company stock worth $1,176,772 in the last ninety days. Insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FIBK. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. DA Davidson restated a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Wells Fargo & Company increased their target price on First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday. Piper Sandler cut their price target on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Monday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and an average target price of $36.14.

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.