First Interstate BancSystem, Inc. (NASDAQ:FIBK) Position Increased by Kestra Investment Management LLC

Kestra Investment Management LLC lifted its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 105.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,757 shares of the financial services provider's stock after acquiring an additional 27,030 shares during the period. Kestra Investment Management LLC owned about 0.05% of First Interstate BancSystem worth $1,713,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FIBK. Point72 DIFC Ltd acquired a new stake in shares of First Interstate BancSystem during the third quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in First Interstate BancSystem during the third quarter worth about $69,000. KBC Group NV lifted its holdings in First Interstate BancSystem by 34.1% in 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 during the last quarter. CWM LLC boosted its stake in First Interstate BancSystem by 65.0% in the third quarter. CWM LLC now owns 5,152 shares of the financial services provider's stock valued at $158,000 after acquiring an additional 2,029 shares during the period. Finally, Telos Capital Management Inc. bought a new position in shares of First Interstate BancSystem during the third quarter valued at approximately $201,000. 88.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FIBK shares. Keefe, Bruyette & Woods boosted their price objective on 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. Stephens lowered their price target on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. UBS Group started coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $35.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the stock an "underweight" rating in a research report on Monday, February 3rd. Finally, DA Davidson reaffirmed a "buy" rating and set a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, First Interstate BancSystem currently has an average rating of "Hold" and a consensus price target of $36.14.

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 shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the sale, the director now directly owns 1,414,886 shares of the company's stock, valued at $46,068,688.16. This represents 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 at the SEC website. Corporate insiders own 6.90% of the company's stock.

First Interstate BancSystem Price Performance

FIBK traded down $1.04 during trading on Friday, reaching $31.13. The stock had a trading volume of 462,420 shares, compared to its average volume of 574,765. The stock has a 50 day moving average of $32.51 and a two-hundred day moving average of $31.73. 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 firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 14.22 and a beta of 0.85. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.92% and a net margin of 15.94%. As a group, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

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

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.