Invesco Ltd. Has $39.02 Million Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Invesco Ltd. decreased its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 14.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,201,652 shares of the financial services provider's stock after selling 207,517 shares during the period. Invesco Ltd. owned 1.15% of First Interstate BancSystem worth $39,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FIBK. Meeder Asset Management Inc. acquired a new position in shares of First Interstate BancSystem during the 4th quarter worth approximately $69,000. KBC Group NV raised its position in First Interstate BancSystem by 34.1% during the fourth 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 in the last quarter. Cibc World Markets Corp acquired a new stake in First Interstate BancSystem in the fourth quarter valued at $241,000. FourThought Financial Partners LLC bought a new position in shares of First Interstate BancSystem in the 4th quarter valued at about $242,000. Finally, Keybank National Association OH increased its stake in shares of First Interstate BancSystem by 39.1% during the 4th quarter. Keybank National Association OH now owns 9,912 shares of the financial services provider's stock worth $322,000 after purchasing an additional 2,787 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.

First Interstate BancSystem Stock Performance

FIBK stock traded up $0.83 during trading hours on Tuesday, hitting $26.82. 471,238 shares of the stock were exchanged, compared to its average volume of 636,361. First Interstate BancSystem, Inc. has a 12 month low of $22.95 and a 12 month high of $36.77. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $2.80 billion, a P/E ratio of 12.25 and a beta of 0.81. The company has a 50-day simple moving average of $28.29 and a two-hundred day simple moving average of $31.13.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS 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%. On average, analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business 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. This represents a $1.88 annualized dividend and a dividend yield of 7.01%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem's dividend payout ratio (DPR) is currently 85.84%.

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 dated Friday, February 14th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. DA Davidson reiterated a "buy" rating and set a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 30th. Stephens decreased their target price on First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company dropped their price target on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 9th. Barclays reduced their price objective on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Finally, Piper Sandler dropped their price objective on shares of First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, First Interstate BancSystem has an average rating of "Hold" and an average 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.