Natixis Advisors LLC Acquires New Shares in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Natixis Advisors LLC acquired a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 42,057 shares of the financial services provider’s stock, valued at approximately $1,366,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FIBK. Swiss National Bank grew its holdings in shares of First Interstate BancSystem by 0.5% during the 4th quarter. Swiss National Bank now owns 185,046 shares of the financial services provider’s stock worth $6,008,000 after purchasing an additional 1,000 shares during the period. KBC Group NV boosted its stake in 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 worth $130,000 after buying an additional 1,022 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of First Interstate BancSystem during the third quarter valued at about $34,000. Rhumbline Advisers raised its stake in shares of First Interstate BancSystem by 1.4% in the 4th quarter. Rhumbline Advisers now owns 129,964 shares of the financial services provider’s stock valued at $4,220,000 after acquiring an additional 1,785 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of First Interstate BancSystem in the 3rd quarter worth approximately $69,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Insider Activity

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the 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 transaction, the director now directly owns 1,414,886 shares in the company, valued at $46,068,688.16. This represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.90% of the company’s stock.

First Interstate BancSystem Stock Down 0.4 %

Shares of NASDAQ:FIBK opened at $29.30 on Wednesday. First Interstate BancSystem, Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $36.77. The firm’s 50 day moving average price is $31.13 and its 200 day moving average price is $31.75. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 13.38 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 earnings per share 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, equities research analysts predict that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a dividend of $0.47 per share. The ex-dividend date was Monday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 6.42%. First Interstate BancSystem’s dividend payout ratio is currently 85.84%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FIBK. UBS Group began 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. Barclays boosted their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. 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. Wells Fargo & Company lifted 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, February 3rd. Finally, Stephens reduced their price target on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and an average price target of $36.14.

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.