Natixis Advisors LLC Takes $1.37 Million Position 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 Form 13F filing with the Securities & Exchange Commission. The firm bought 42,057 shares of the financial services provider's stock, valued at approximately $1,366,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in shares of First Interstate BancSystem during the 3rd quarter worth approximately $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in First Interstate BancSystem during the third quarter worth $69,000. KBC Group NV increased its holdings 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 valued at $130,000 after buying an additional 1,022 shares during the period. FourThought Financial Partners LLC acquired a new position in shares of First Interstate BancSystem in the 4th quarter valued at $242,000. Finally, Point72 Asset Management L.P. bought a new position in shares of First Interstate BancSystem during the 3rd quarter worth about $273,000. 88.71% of the stock is currently owned by institutional investors.

Insider Activity

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction 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 transaction, the director now directly 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 SEC, which is available through this hyperlink. 6.90% of the stock is owned by corporate insiders.

First Interstate BancSystem Trading Down 1.8 %

First Interstate BancSystem stock traded down $0.51 during midday trading on Friday, hitting $28.59. 360,828 shares of the stock were exchanged, compared to its average volume of 612,434. The company has a fifty day simple moving average of $30.92 and a two-hundred day simple moving average of $31.72. 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 stock has a market capitalization of $2.99 billion, a PE ratio of 13.05 and a beta of 0.84. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $36.77.

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 return on equity of 6.92% and a net margin of 15.94%. Equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem's dividend payout ratio (DPR) is currently 85.84%.

Analysts Set New Price Targets

FIBK has been the subject of several recent analyst reports. DA Davidson reiterated a "buy" rating and set a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Keefe, Bruyette & Woods boosted their price target on shares of 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 target on First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. StockNews.com upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, 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. Two equities 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, the stock currently has a consensus 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.