Mitsubishi UFJ Trust & Banking Corp Has $96,000 Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Mitsubishi UFJ Trust & Banking Corp lowered its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 90.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,959 shares of the financial services provider's stock after selling 28,997 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in First Interstate BancSystem were worth $96,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Swiss National Bank raised its holdings in shares of 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 purchasing an additional 1,000 shares in the last quarter. KBC Group NV lifted its position in shares of 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 buying an additional 1,022 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of First Interstate BancSystem during the 3rd quarter valued at about $34,000. Rhumbline Advisers lifted its holdings in First Interstate BancSystem by 1.4% in the 4th quarter. Rhumbline Advisers now owns 129,964 shares of the financial services provider's stock worth $4,220,000 after purchasing an additional 1,785 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP grew its holdings in First Interstate BancSystem by 12.4% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 18,067 shares of the financial services provider's stock valued at $587,000 after purchasing an additional 1,995 shares during the last quarter. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Stock Performance

FIBK stock traded down $0.22 during trading on Monday, reaching $24.50. 1,057,918 shares of the stock were exchanged, compared to its average volume of 620,042. First Interstate BancSystem, Inc. has a twelve month low of $23.42 and a twelve 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 company has a market capitalization of $2.56 billion, a P/E ratio of 11.19 and a beta of 0.81. The stock has a 50 day simple moving average of $30.21 and a 200-day simple moving average of $31.58.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced 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, sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 7.67%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem's dividend payout ratio (DPR) is presently 85.84%.

Wall Street Analysts Forecast Growth

FIBK has been the subject of a number of analyst reports. UBS Group started coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $35.00 price objective for the company. Wells Fargo & Company boosted 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. Piper Sandler lowered their price target on 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. Stephens cut their price objective on 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. Finally, DA Davidson reaffirmed a "buy" rating and issued a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $36.14.

Insider Activity

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the sale, the director now directly owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 6.90% of the company's stock.

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.