BNP Paribas Financial Markets Purchases 15,649 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

BNP Paribas Financial Markets boosted its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 97.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,779 shares of the financial services provider's stock after acquiring an additional 15,649 shares during the quarter. BNP Paribas Financial Markets' holdings in First Interstate BancSystem were worth $975,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FIBK. Dimensional Fund Advisors LP increased its stake in First Interstate BancSystem by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider's stock valued at $127,204,000 after buying an additional 367,212 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in First Interstate BancSystem by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider's stock valued at $56,974,000 after buying an additional 32,348 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in First Interstate BancSystem by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider's stock valued at $32,945,000 after buying an additional 52,919 shares during the last quarter. Bank of New York Mellon Corp increased its stake in First Interstate BancSystem by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 887,559 shares of the financial services provider's stock valued at $24,648,000 after buying an additional 11,493 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of First Interstate BancSystem by 57.3% during the 3rd quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider's stock worth $27,176,000 after purchasing an additional 322,578 shares during the last quarter. 88.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FIBK shares. Piper Sandler lowered their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company upped their price target on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an "underweight" rating in a research note on Tuesday, December 3rd. Stephens reiterated an "overweight" rating and issued a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Barclays upped their price target on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an "underweight" rating in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods upped their price target 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $35.17.

First Interstate BancSystem Stock Up 1.4 %

Shares of NASDAQ:FIBK traded up $0.49 during trading on Wednesday, reaching $34.44. 962,741 shares of the stock were exchanged, compared to its average volume of 673,398. The stock has a fifty day moving average of $32.61 and a two-hundred day moving average of $30.16. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 15.11 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same period in the previous year, the company earned $0.70 earnings per share. Research analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem's payout ratio is 82.46%.

Insider Buying and Selling

In other news, major shareholder Julie A. Scott sold 20,220 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $32.78, for a total transaction of $662,811.60. Following the transaction, the insider now owns 635,069 shares of the company's stock, valued at $20,817,561.82. This represents a 3.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the sale, the director now directly owns 958,710 shares in the company, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,837 shares of company stock valued at $1,839,583. 6.90% of the stock is owned by 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.