First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Villere ST Denis J & Co. LLC

Villere ST Denis J & Co. LLC trimmed its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 541,219 shares of the financial services provider's stock after selling 17,270 shares during the quarter. Villere ST Denis J & Co. LLC owned 0.52% of First Interstate BancSystem worth $17,573,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FIBK. AQR Capital Management LLC acquired a new position in shares of First Interstate BancSystem during the second quarter worth about $242,000. CWM LLC grew its position in First Interstate BancSystem by 65.0% during the third quarter. CWM LLC now owns 5,152 shares of the financial services provider's stock worth $158,000 after buying an additional 2,029 shares during the period. Inspire Investing LLC grew its position in First Interstate BancSystem by 5.3% during the third quarter. Inspire Investing LLC now owns 13,422 shares of the financial services provider's stock worth $412,000 after buying an additional 673 shares during the period. Creative Planning grew its position in First Interstate BancSystem by 23.0% during the third quarter. Creative Planning now owns 30,033 shares of the financial services provider's stock worth $921,000 after buying an additional 5,618 shares during the period. Finally, Telos Capital Management Inc. acquired a new position in First Interstate BancSystem during the third quarter worth about $201,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Interstate BancSystem

In related news, major shareholder James R. Scott, Jr. sold 6,067 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the transaction, the insider now owns 75,387 shares of the company's stock, valued at approximately $2,600,851.50. This represents a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John M. Heyneman, Jr. sold 1,335 shares of the 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 transaction, the director now directly owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.90% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on FIBK shares. Piper Sandler lowered their target price on shares of First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Stephens lowered their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. UBS Group initiated 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. Barclays increased their price target on shares of 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, Wells Fargo & Company increased their price target 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. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $36.14.

First Interstate BancSystem Price Performance

Shares of FIBK stock traded down $0.06 during trading hours on Wednesday, hitting $32.69. The company's stock had a trading volume of 293,597 shares, compared to its average volume of 586,106. The business has a fifty day moving average of $32.55 and a 200-day moving average of $31.73. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 14.93 and a beta of 0.85. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts anticipate 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 will be paid on Thursday, February 20th. Investors of record on Monday, February 10th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Monday, February 10th. First Interstate BancSystem's payout ratio is 85.85%.

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.