First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lowered its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,488 shares of the financial services provider's stock after selling 13,392 shares during the quarter. Granite Investment Partners LLC owned 0.15% of First Interstate BancSystem worth $5,244,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Covestor Ltd boosted its holdings in shares of First Interstate BancSystem by 25.8% during the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after purchasing an additional 510 shares during the last quarter. Swiss National Bank grew its holdings in First Interstate BancSystem by 0.5% during the 4th quarter. Swiss National Bank now owns 185,046 shares of the financial services provider's stock valued at $6,008,000 after buying an additional 1,000 shares in the last quarter. KBC Group NV increased its stake in First Interstate BancSystem by 34.1% in the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider's stock worth $130,000 after acquiring an additional 1,022 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of First Interstate BancSystem by 1.4% during the 4th quarter. Rhumbline Advisers now owns 129,964 shares of the financial services provider's stock worth $4,220,000 after acquiring an additional 1,785 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP boosted its position in shares of First Interstate BancSystem by 12.4% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 18,067 shares of the financial services provider's stock valued at $587,000 after acquiring an additional 1,995 shares during the last quarter. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Trading Down 0.0 %

FIBK traded down $0.01 on Friday, reaching $25.99. 690,105 shares of the company traded hands, compared to its average volume of 637,584. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a market cap of $2.72 billion, a P/E ratio of 11.87 and a beta of 0.81. The firm has a fifty day simple moving average of $28.53 and a two-hundred day simple moving average of $31.16. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year 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 (EPS) 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%. As a group, equities research analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 7.23%. First Interstate BancSystem's dividend payout ratio is currently 85.84%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FIBK. Piper Sandler decreased their price target on shares of 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. Wells Fargo & Company lowered their price target on shares of First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a report on Wednesday, April 9th. DA Davidson reissued a "buy" rating and set a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Barclays lowered their price objective on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, First Interstate BancSystem has a consensus rating of "Hold" and a consensus target price of $35.00.

Insider Activity at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the transaction, the director now owns 1,414,886 shares of the company's stock, valued at $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.90% of the stock is currently owned by corporate insiders.

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.