Empower Advisory Group LLC Has $914,000 Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Empower Advisory Group LLC decreased its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 94.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,161 shares of the financial services provider’s stock after selling 438,526 shares during the period. Empower Advisory Group LLC’s holdings in First Interstate BancSystem were worth $914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in First Interstate BancSystem by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock valued at $61,152,000 after buying an additional 59,367 shares during the period. Jennison Associates LLC lifted its holdings in First Interstate BancSystem by 73.9% in the fourth quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock valued at $50,020,000 after buying an additional 654,688 shares during the period. Wellington Management Group LLP lifted its holdings in First Interstate BancSystem by 6.5% in the third quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock valued at $39,522,000 after buying an additional 78,596 shares during the period. Charles Schwab Investment Management Inc. increased its stake in First Interstate BancSystem by 5.2% in the third 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 in the last quarter. Finally, Fisher Asset Management LLC increased its stake in First Interstate BancSystem by 17.2% in the third quarter. Fisher Asset Management LLC now owns 319,000 shares of the financial services provider’s stock valued at $9,787,000 after purchasing an additional 46,747 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Trading Up 0.2 %

NASDAQ:FIBK opened at $32.75 on Wednesday. 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 firm has a 50-day moving average of $32.61 and a 200-day moving average of $31.69. The company has a market cap of $3.42 billion, a PE ratio of 14.95 and a beta of 0.85. 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) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping 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 expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date is Monday, February 10th. First Interstate BancSystem’s payout ratio is 85.84%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Piper Sandler decreased their price target on shares of 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. Stephens decreased their price target on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted 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 note on Monday, February 3rd. Finally, Barclays lifted 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 note on Thursday, December 5th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First Interstate BancSystem has a consensus rating of “Hold” and a consensus price target of $36.14.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the sale, the director now directly owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the sale, the insider now directly owns 75,387 shares of the company’s stock, valued at $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.

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.