First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Bought by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP grew its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 97.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 371,290 shares of the financial services provider’s stock after buying an additional 182,993 shares during the quarter. ExodusPoint Capital Management LP owned 0.36% of First Interstate BancSystem worth $12,056,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in First Interstate BancSystem by 97.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 31,779 shares of the financial services provider’s stock worth $975,000 after acquiring an additional 15,649 shares in the last quarter. Verition Fund Management LLC bought a new stake in First Interstate BancSystem in the third quarter valued at about $339,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in First Interstate BancSystem during the third quarter valued at approximately $69,000. Holocene Advisors LP grew its position in shares of First Interstate BancSystem by 14.0% in the 3rd quarter. Holocene Advisors LP now owns 74,469 shares of the financial services provider’s stock worth $2,285,000 after acquiring an additional 9,150 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in First Interstate BancSystem by 100.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 211,390 shares of the financial services provider’s stock worth $6,485,000 after purchasing an additional 105,670 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Stock Down 10.7 %

Shares of First Interstate BancSystem stock opened at $25.64 on Friday. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77. The company has a market capitalization of $2.68 billion, a P/E ratio of 11.71 and a beta of 0.84. The business’s fifty day moving average price is $30.54 and its two-hundred day moving average price is $31.66. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio is currently 85.84%.

Insider Activity

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was 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 of the company’s stock, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FIBK shares. Stephens lowered their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. DA Davidson reissued a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 30th. UBS Group started coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price objective for the company. Finally, Piper Sandler cut their target price on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.14.

First Interstate BancSystem 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.