ExodusPoint Capital Management LP Acquires 182,993 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

ExodusPoint Capital Management LP grew its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 97.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 371,290 shares of the financial services provider's stock after purchasing an additional 182,993 shares during the period. ExodusPoint Capital Management LP owned approximately 0.36% of First Interstate BancSystem worth $12,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets increased its stake in First Interstate BancSystem by 97.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,779 shares of the financial services provider's stock valued at $975,000 after buying an additional 15,649 shares during the period. Verition Fund Management LLC acquired a new position in shares of First Interstate BancSystem in the third quarter worth $339,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of First Interstate BancSystem during the third quarter worth $69,000. Holocene Advisors LP boosted its position in First Interstate BancSystem by 14.0% during the third quarter. Holocene Advisors LP now owns 74,469 shares of the financial services provider's stock valued at $2,285,000 after purchasing an additional 9,150 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in First Interstate BancSystem by 100.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 211,390 shares of the financial services provider's stock valued at $6,485,000 after purchasing an additional 105,670 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.

First Interstate BancSystem Trading Up 9.0 %

Shares of First Interstate BancSystem stock traded up $2.15 during trading on Wednesday, reaching $26.01. 2,352,677 shares of the company were exchanged, compared to its average volume of 629,854. The business has a 50-day moving average price of $29.55 and a 200-day moving average price of $31.40. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 11.88 and a beta of 0.81. 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 twelve month low of $22.95 and a twelve month high of $36.77.

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

First Interstate BancSystem Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem's dividend payout ratio (DPR) is presently 85.84%.

Insider Transactions at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,414,886 shares of the company's stock, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group assumed coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They set a "neutral" rating and a $35.00 target price on the stock. Wells Fargo & Company reduced their target price on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a report on Wednesday. Barclays reduced their target price on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a report on Tuesday. StockNews.com upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Stephens reduced their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $35.00.

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.