Villere ST Denis J & Co. LLC Cuts Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Villere ST Denis J & Co. LLC decreased its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 558,489 shares of the financial services provider's stock after selling 16,625 shares during the quarter. Villere ST Denis J & Co. LLC owned approximately 0.53% of First Interstate BancSystem worth $17,134,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of First Interstate BancSystem by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider's stock worth $127,204,000 after purchasing an additional 367,212 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in First Interstate BancSystem by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider's stock worth $56,974,000 after buying an additional 32,348 shares during the period. Bank of New York Mellon Corp grew its position in shares of First Interstate BancSystem by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 887,559 shares of the financial services provider's stock valued at $24,648,000 after buying an additional 11,493 shares during the last quarter. Leeward Investments LLC MA increased its stake in shares of First Interstate BancSystem by 5.6% in the second quarter. Leeward Investments LLC MA now owns 657,946 shares of the financial services provider's stock valued at $18,271,000 after buying an additional 34,817 shares during the period. Finally, Sei Investments Co. raised its position in shares of First Interstate BancSystem by 5.8% during the first quarter. Sei Investments Co. now owns 448,158 shares of the financial services provider's stock worth $12,194,000 after acquiring an additional 24,552 shares during the last quarter. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Stock Up 0.5 %

NASDAQ:FIBK traded up $0.16 during trading hours on Friday, reaching $32.77. The company had a trading volume of 471,365 shares, compared to its average volume of 620,783. First Interstate BancSystem, Inc. has a twelve month low of $22.89 and a twelve month high of $34.53. The company has a quick ratio of 0.79, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 14.37 and a beta of 0.81. The business's 50-day simple moving average is $30.75 and its two-hundred day simple moving average is $29.07.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same period last year, the company earned $0.70 earnings per share. On average, equities analysts expect that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.74%. First Interstate BancSystem's dividend payout ratio is 82.46%.

Wall Street Analyst Weigh In

FIBK has been the topic of several analyst reports. StockNews.com cut First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Stephens reiterated an "overweight" rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a "market perform" rating in a research note on Monday, July 29th. Wells Fargo & Company cut shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $30.00 to $28.00 in a research report on Tuesday, October 1st. Finally, Piper Sandler lowered their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $32.50.

First Interstate BancSystem Company 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.