Sei Investments Co. Buys 24,212 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Sei Investments Co. lifted its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 565,473 shares of the financial services provider's stock after buying an additional 24,212 shares during the quarter. Sei Investments Co. owned about 0.54% of First Interstate BancSystem worth $18,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FIBK. Intech Investment Management LLC bought a new stake in First Interstate BancSystem during the 3rd quarter worth approximately $528,000. Charles Schwab Investment Management Inc. raised its position in shares of First Interstate BancSystem by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider's stock valued at $32,945,000 after purchasing an additional 52,919 shares during the period. Fisher Asset Management LLC lifted its stake in shares of First Interstate BancSystem by 17.2% during the 3rd quarter. Fisher Asset Management LLC now owns 319,000 shares of the financial services provider's stock valued at $9,787,000 after buying an additional 46,747 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in First Interstate BancSystem by 97.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,779 shares of the financial services provider's stock worth $975,000 after buying an additional 15,649 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in First Interstate BancSystem in the 3rd quarter worth $2,362,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the business'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 transaction of $43,467.60. Following the completion of the transaction, the director now owns 1,414,886 shares in the company, valued at $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.90% of the company's stock.

First Interstate BancSystem Price Performance

Shares of First Interstate BancSystem stock traded down $0.27 during trading hours on Tuesday, reaching $28.38. The company's stock had a trading volume of 653,242 shares, compared to its average volume of 611,874. The firm has a 50 day moving average price of $30.75 and a 200-day moving average price of $31.72. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $2.97 billion, a P/E ratio of 12.96 and a beta of 0.84. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings data 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%. On average, analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.62%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem's payout ratio is 85.84%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FIBK. UBS Group assumed coverage on 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. 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 research note on Monday, February 3rd. Wells Fargo & Company lifted their price objective on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an "underweight" rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Finally, Stephens reduced their price target on shares of 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 analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.