321,873 Shares in First Interstate BancSystem, Inc. (NASDAQ:FIBK) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 321,873 shares of the financial services provider’s stock, valued at approximately $10,451,000. Raymond James Financial Inc. owned 0.31% of First Interstate BancSystem as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in shares of First Interstate BancSystem during the 3rd quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in First Interstate BancSystem during the third quarter worth about $69,000. KBC Group NV increased its position in shares of First Interstate BancSystem by 34.1% during the fourth 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. FourThought Financial Partners LLC purchased a new stake in shares of First Interstate BancSystem in the 4th quarter valued at approximately $242,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of First Interstate BancSystem in the 3rd quarter worth approximately $273,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analyst Ratings Changes

FIBK has been the subject of several research reports. UBS Group started coverage on shares of First Interstate BancSystem in a report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price for the company. Stephens dropped their price objective on 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. Wells Fargo & Company boosted their price objective on First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods raised their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $36.14.

Insider Activity

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the transaction, the director now directly owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.90% of the company’s stock.

First Interstate BancSystem Trading Down 1.7 %

FIBK opened at $28.63 on Friday. The business has a fifty day moving average price of $31.23 and a 200 day moving average price of $31.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. First Interstate BancSystem, Inc. has a 12 month low of $24.16 and a 12 month high of $36.77. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 13.07 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last announced 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 return on equity of 6.92% and a net margin of 15.94%. Sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio is presently 85.84%.

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.