Victory Capital Management Inc. Has $41.25 Million Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Victory Capital Management Inc. boosted its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 309.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,270,296 shares of the financial services provider's stock after buying an additional 960,372 shares during the quarter. Victory Capital Management Inc. owned approximately 1.22% of First Interstate BancSystem worth $41,247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wrapmanager Inc. boosted its stake in shares of First Interstate BancSystem by 5.0% in the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider's stock valued at $275,000 after purchasing an additional 429 shares in the last quarter. KBC Group NV grew its stake in shares of First Interstate BancSystem by 34.1% during 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 third quarter worth $34,000. Rhumbline Advisers increased 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of First Interstate BancSystem by 20.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,874 shares of the financial services provider's stock valued at $395,000 after purchasing an additional 2,169 shares in the last quarter. Institutional investors own 88.71% of the company's stock.

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Insider Buying and Selling at First Interstate BancSystem

In other 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.90% of the company's stock.

First Interstate BancSystem Trading Up 1.8 %

Shares of First Interstate BancSystem stock traded up $0.50 on Wednesday, hitting $28.27. 640,496 shares of the company's stock traded hands, compared to its average volume of 598,182. The company has a fifty day moving average of $31.70 and a two-hundred day moving average of $31.87. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 12.91 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (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 expect 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. Shareholders of record on Monday, February 10th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem's payout ratio is 85.84%.

Analysts Set New Price Targets

Several research firms recently commented on FIBK. DA Davidson reiterated a "buy" rating and set a $42.00 target price on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Stephens reduced their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. UBS Group began coverage on First Interstate BancSystem in a research report on Tuesday, December 17th. They set a "neutral" rating and a $35.00 target price for the company. Barclays upped their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the company an "underweight" rating in a research report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods raised their price objective on 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. Two research 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's stock. Based on data from MarketBeat, the company 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.