Davidson Investment Advisors Lowers Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Davidson Investment Advisors lowered its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 394,656 shares of the financial services provider's stock after selling 40,176 shares during the period. Davidson Investment Advisors owned about 0.38% of First Interstate BancSystem worth $12,814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FIBK. CWM LLC increased its holdings in First Interstate BancSystem by 65.0% during the third quarter. CWM LLC now owns 5,152 shares of the financial services provider's stock valued at $158,000 after buying an additional 2,029 shares during the period. Creative Planning boosted its position in First Interstate BancSystem by 23.0% during the 3rd quarter. Creative Planning now owns 30,033 shares of the financial services provider's stock valued at $921,000 after acquiring an additional 5,618 shares in the last quarter. Telos Capital Management Inc. bought a new position in shares of First Interstate BancSystem in the 3rd quarter worth $201,000. Altus Wealth Group LLC lifted its stake in shares of First Interstate BancSystem by 21.4% during the 3rd quarter. Altus Wealth Group LLC now owns 24,512 shares of the financial services provider's stock worth $752,000 after purchasing an additional 4,316 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in First Interstate BancSystem by 5.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider's stock valued at $311,000 after purchasing an additional 507 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. DA Davidson reiterated a "buy" rating and issued a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. Keefe, Bruyette & Woods increased their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price target 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 decreased their price objective on First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Finally, Barclays boosted their target price on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an "underweight" rating in a research note on Thursday, December 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $36.14.

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 shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the transaction, the director now directly owns 1,414,886 shares in the company, valued at $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.90% of the company's stock.

First Interstate BancSystem Stock Performance

Shares of NASDAQ FIBK traded down $1.04 during mid-day trading on Friday, hitting $31.13. The stock had a trading volume of 462,420 shares, compared to its average volume of 574,765. The company has a 50 day moving average of $32.51 and a two-hundred day moving average of $31.73. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $3.25 billion, a PE ratio of 14.22 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) 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 return on equity of 6.92% and a net margin of 15.94%. Research analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.04%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem's payout ratio is 85.85%.

First Interstate BancSystem 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.