D.A. Davidson & CO. Cuts Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

D.A. Davidson & CO. decreased its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 58.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,751 shares of the financial services provider's stock after selling 37,333 shares during the period. D.A. Davidson & CO.'s holdings in First Interstate BancSystem were worth $869,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in First Interstate BancSystem during the third quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at about $69,000. KBC Group NV boosted its holdings in First Interstate BancSystem by 34.1% during the 4th 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 period. Point72 Asset Management L.P. bought a new position in First Interstate BancSystem during the 3rd quarter worth approximately $273,000. Finally, Wrapmanager Inc. increased its stake in First Interstate BancSystem by 5.0% in the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider's stock worth $275,000 after purchasing an additional 429 shares during the period. Hedge funds and other institutional investors own 88.71% of the company's stock.

Insiders Place Their Bets

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 shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the sale, the director now directly owns 1,414,886 shares of the company's stock, valued at $46,068,688.16. This represents a 0.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.90% of the stock is owned by corporate insiders.

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First Interstate BancSystem Trading Up 0.5 %

Shares of FIBK traded up $0.15 during trading hours on Friday, reaching $30.70. 689,239 shares of the company traded hands, compared to its average volume of 575,728. First Interstate BancSystem, Inc. has a 12 month low of $24.16 and a 12 month high of $36.77. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 14.02 and a beta of 0.85. The company's fifty day moving average price is $32.27 and its two-hundred day moving average price is $31.83. 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 (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. Equities research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a $0.47 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 6.12%. First Interstate BancSystem's payout ratio is 85.84%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FIBK. Wells Fargo & Company increased their price objective on First Interstate BancSystem from $29.00 to $30.00 and gave the company an "underweight" rating in a research note on Monday, February 3rd. StockNews.com cut shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research report on Tuesday, December 24th. Barclays boosted their price objective on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an "underweight" rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, Piper Sandler cut their target price on First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Three equities research 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 presently has a consensus rating of "Hold" and a consensus target price 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.