SG Americas Securities LLC Cuts Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

SG Americas Securities LLC decreased its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,829 shares of the financial services provider’s stock after selling 740 shares during the quarter. SG Americas Securities LLC’s holdings in First Interstate BancSystem were worth $124,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FIBK. AQR Capital Management LLC purchased a new position in First Interstate BancSystem in the second quarter worth $242,000. CWM LLC grew its holdings in First Interstate BancSystem by 65.0% in the third quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 2,029 shares during the last quarter. Inspire Investing LLC grew its holdings in First Interstate BancSystem by 5.3% in the third quarter. Inspire Investing LLC now owns 13,422 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 673 shares during the last quarter. Procyon Advisors LLC acquired a new stake in First Interstate BancSystem in the third quarter valued at $358,000. Finally, Creative Planning grew its holdings in First Interstate BancSystem by 23.0% in the third quarter. Creative Planning now owns 30,033 shares of the financial services provider’s stock valued at $921,000 after purchasing an additional 5,618 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on FIBK shares. UBS Group started coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price on the stock. Piper Sandler lowered their target price on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. DA Davidson reissued a “buy” rating and issued a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. Barclays upped their target price on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Finally, StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.14.

First Interstate BancSystem Stock Up 2.1 %

Shares of NASDAQ:FIBK opened at $32.89 on Wednesday. The stock’s 50-day moving average price is $32.78 and its two-hundred day moving average price is $31.65. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 12-month low of $24.16 and a 12-month high of $36.77. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 15.02 and a beta of 0.85.

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

First Interstate BancSystem Dividend Announcement

The firm also recently declared 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 5.72%. The ex-dividend date is Monday, February 10th. First Interstate BancSystem’s payout ratio is 85.85%.

Insiders Place Their Bets

In other news, major shareholder James R. Scott, Jr. sold 6,067 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.90% of the stock is owned by corporate insiders.

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.