Bahl & Gaynor Inc. Decreases Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Bahl & Gaynor Inc. reduced its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,158 shares of the financial services provider’s stock after selling 2,946 shares during the period. Bahl & Gaynor Inc.’s holdings in First Interstate BancSystem were worth $849,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FIBK. Wrapmanager Inc. boosted its position in shares of First Interstate BancSystem by 5.0% during the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 429 shares during the last quarter. KBC Group NV lifted its holdings in First Interstate BancSystem by 34.1% in the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,022 shares during the last quarter. Point72 DIFC Ltd purchased a new position in First Interstate BancSystem in the third quarter worth approximately $34,000. Rhumbline Advisers increased its stake in First Interstate BancSystem by 1.4% during the fourth quarter. Rhumbline Advisers now owns 129,964 shares of the financial services provider’s stock worth $4,220,000 after acquiring an additional 1,785 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of First Interstate BancSystem by 20.3% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $28.87 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.77. The firm has a market cap of $3.02 billion, a PE ratio of 13.18 and a beta of 0.85. The company’s 50 day moving average is $32.04 and its two-hundred day moving average is $31.88.

First Interstate BancSystem (NASDAQ:FIBK) 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 return on equity of 6.92% and a net margin of 15.94%. On average, research analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio is presently 85.84%.

Analyst Upgrades and Downgrades

FIBK has been the subject of a number of recent analyst reports. Piper Sandler cut their price objective on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday. DA Davidson restated a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 30th. UBS Group assumed coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.14.

Insider Buying and Selling

In other First Interstate BancSystem 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 shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.90% of the company’s stock.

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.