Charles Schwab Investment Management Inc. Acquires 32,968 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Charles Schwab Investment Management Inc. raised its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,106,782 shares of the financial services provider’s stock after purchasing an additional 32,968 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.06% of First Interstate BancSystem worth $35,937,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in shares of First Interstate BancSystem in the third quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of First Interstate BancSystem in the third quarter valued at about $69,000. KBC Group NV increased its stake in shares of First Interstate BancSystem by 34.1% in the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after buying an additional 1,022 shares during the period. FourThought Financial Partners LLC acquired a new stake in shares of First Interstate BancSystem in the fourth quarter valued at about $242,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of First Interstate BancSystem in the third quarter valued at about $273,000. 88.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FIBK. UBS Group began coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price target for the company. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Stephens decreased their target price 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 raised their target price on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Finally, Piper Sandler decreased their target price on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.14.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock opened at $28.85 on Monday. The business’s fifty day simple moving average is $31.47 and its 200 day simple moving average is $31.82. The firm has a market capitalization of $3.02 billion, a P/E ratio of 13.17 and a beta of 0.84. First Interstate BancSystem, Inc. has a 12 month low of $24.16 and a 12 month high of $36.77. 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 (NASDAQ:FIBK) last issued its quarterly earnings results 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%. As a group, analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 6.52%. First Interstate BancSystem’s dividend payout ratio is presently 85.84%.

Insider Activity

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the sale, the director now directly owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.90% of the company’s stock.

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.