First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 46.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,868 shares of the financial services provider’s stock after selling 24,464 shares during the quarter. Hsbc Holdings PLC’s holdings in First Interstate BancSystem were worth $860,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates boosted its holdings in shares of First Interstate BancSystem by 4.9% in the 3rd quarter. Raymond James & Associates now owns 18,532 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 871 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of First Interstate BancSystem by 93.4% in the 3rd quarter. Jennison Associates LLC now owns 1,426,641 shares of the financial services provider’s stock valued at $35,580,000 after purchasing an additional 688,906 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of First Interstate BancSystem by 37.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 12,153 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 3,328 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in shares of First Interstate BancSystem in the 3rd quarter valued at $10,857,000. Finally, Bahl & Gaynor Inc. boosted its holdings in shares of First Interstate BancSystem by 2.2% in the 3rd quarter. Bahl & Gaynor Inc. now owns 704,986 shares of the financial services provider’s stock valued at $17,582,000 after purchasing an additional 15,092 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analyst Weigh In

FIBK has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Monday. TheStreet lowered shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. Stephens restated an “overweight” rating and set a $32.00 target price on shares of First Interstate BancSystem in a report on Thursday, April 25th. Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Finally, Barclays lifted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.20.

Insider Buying and Selling

In related news, insider Lorrie F. Asker sold 1,921 shares of First Interstate BancSystem stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the sale, the insider now owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the sale, the insider now owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kristina Robbins sold 2,710 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total transaction of $69,999.30. Following the completion of the sale, the executive vice president now directly owns 9,047 shares of the company’s stock, valued at approximately $233,684.01. The disclosure for this sale can be found here. Insiders have sold 7,531 shares of company stock valued at $197,645 in the last quarter. Company insiders own 6.90% of the company’s stock.

First Interstate BancSystem Stock Up 1.6 %

First Interstate BancSystem stock traded up $0.43 during midday trading on Thursday, hitting $27.89. 515,858 shares of the stock were exchanged, compared to its average volume of 822,321. First Interstate BancSystem, Inc. has a 1 year low of $20.81 and a 1 year high of $32.54. The firm has a market cap of $2.90 billion, a P/E ratio of 11.12 and a beta of 0.85. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76. The company has a 50 day moving average price of $26.15 and a two-hundred day moving average price of $26.76.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. The firm had revenue of $252.30 million for the quarter, compared to the consensus estimate of $254.50 million. On average, sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.25 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend is Friday, May 3rd. First Interstate BancSystem’s dividend payout ratio (DPR) is 74.90%.

About First Interstate BancSystem

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.