Natixis Advisors LLC Invests $1.37 Million in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Natixis Advisors LLC bought a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 42,057 shares of the financial services provider's stock, valued at approximately $1,366,000.

A number of other large investors also recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in First Interstate BancSystem during the third quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of First Interstate BancSystem during the third quarter worth about $69,000. KBC Group NV raised its holdings in shares of 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. FourThought Financial Partners LLC acquired a new stake in shares of First Interstate BancSystem in the 4th quarter worth about $242,000. Finally, Point72 Asset Management L.P. bought a new position in First Interstate BancSystem in the 3rd quarter valued at about $273,000. 88.71% of the stock is currently owned by institutional investors.

Insider Transactions at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the company's stock in a transaction 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 transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.90% of the company's stock.

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First Interstate BancSystem Stock Performance

FIBK traded down $0.66 during trading hours on Friday, hitting $28.45. The stock had a trading volume of 84,692 shares, compared to its average volume of 612,612. First Interstate BancSystem, Inc. has a 1 year low of $24.16 and a 1 year high of $36.77. The company's fifty day simple moving average is $31.00 and its 200 day simple moving average is $31.71. The stock has a market cap of $2.97 billion, a PE ratio of 13.00 and a beta of 0.84. 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 (NASDAQ:FIBK - Get Free Report) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. Equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently declared 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. This represents a $1.88 annualized dividend and a dividend yield of 6.61%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem's dividend payout ratio is presently 85.84%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. DA Davidson reissued a "buy" rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Keefe, Bruyette & Woods increased their price target 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. Piper Sandler dropped their price objective on 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. UBS Group began 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. Finally, Wells Fargo & Company lifted their target price on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an "underweight" rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, First Interstate BancSystem has an average rating of "Hold" and an average price target of $36.14.

First Interstate BancSystem 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.