American Century Companies Inc. Sells 423,013 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

American Century Companies Inc. lessened its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 17.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,024,869 shares of the financial services provider's stock after selling 423,013 shares during the quarter. American Century Companies Inc. owned about 1.94% of First Interstate BancSystem worth $65,748,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in First Interstate BancSystem by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider's stock worth $61,152,000 after buying an additional 59,367 shares during the period. Jennison Associates LLC lifted its holdings in First Interstate BancSystem by 73.9% during the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider's stock worth $50,020,000 after purchasing an additional 654,688 shares in the last quarter. Wellington Management Group LLP boosted its stake in First Interstate BancSystem by 6.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider's stock worth $39,522,000 after purchasing an additional 78,596 shares during the period. Victory Capital Management Inc. grew its holdings in First Interstate BancSystem by 309.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider's stock valued at $41,247,000 after buying an additional 960,372 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of First Interstate BancSystem by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,106,782 shares of the financial services provider's stock valued at $35,937,000 after buying an additional 32,968 shares during the period. Hedge funds and other institutional investors own 88.71% of the company's stock.

Remove Ads

First Interstate BancSystem Price Performance

Shares of First Interstate BancSystem stock traded down $0.66 during trading on Friday, hitting $28.45. 100,978 shares of the stock traded hands, compared to its average volume of 612,685. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 12.99 and a beta of 0.84. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $36.77. The firm's fifty day moving average is $31.00 and its 200-day moving average is $31.71.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. Research analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 6.61%. First Interstate BancSystem's payout ratio is 85.84%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FIBK shares. Wells Fargo & Company upped their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the stock an "underweight" rating in a report on Monday, February 3rd. Piper Sandler lowered their price objective on First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. UBS Group initiated coverage on First Interstate BancSystem in a research report on Tuesday, December 17th. They set a "neutral" rating and a $35.00 target price for the company. Keefe, Bruyette & Woods raised their price target 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, Barclays boosted their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an "underweight" rating in a report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $36.14.

Insider Buying and Selling at First Interstate BancSystem

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

About First Interstate BancSystem

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.