Hantz Financial Services Inc. Trims Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Hantz Financial Services Inc. lowered its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 99,973 shares of the financial services provider’s stock after selling 3,689 shares during the period. Hantz Financial Services Inc. owned about 0.10% of First Interstate BancSystem worth $3,246,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Point72 DIFC Ltd purchased a new position in First Interstate BancSystem during the third quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in First Interstate BancSystem in the third quarter worth approximately $69,000. KBC Group NV increased its position in shares of First Interstate BancSystem by 34.1% during the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,022 shares during the last quarter. CWM LLC raised its stake in shares of First Interstate BancSystem by 65.0% in the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 2,029 shares during the period. Finally, Telos Capital Management Inc. acquired a new position in First Interstate BancSystem during the third quarter worth $201,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on FIBK. StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. Wells Fargo & Company dropped their price target on shares of First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. UBS Group started coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price for the company. DA Davidson restated a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday. Finally, Piper Sandler lowered their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.00.

First Interstate BancSystem Price Performance

FIBK stock opened at $33.50 on Friday. First Interstate BancSystem, Inc. has a 12-month low of $24.16 and a 12-month high of $36.77. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 14.69 and a beta of 0.85. The firm has a 50 day moving average of $33.14 and a 200-day moving average of $31.58. 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) last announced its quarterly earnings results 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 7.48%. As a group, equities analysts expect that First Interstate BancSystem, Inc. will post 2.2 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. Stockholders 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 dividend yield of 5.61%. The ex-dividend date of this dividend is Monday, February 10th. First Interstate BancSystem’s dividend payout ratio is presently 82.46%.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the transaction, the director now directly owns 958,710 shares of the company’s stock, valued at $32,768,707.80. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction on Friday, November 8th. The shares were sold at an average price of $32.78, for a total transaction of $662,811.60. Following the transaction, the insider now owns 635,069 shares in the company, valued at $20,817,561.82. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,837 shares of company stock valued at $1,839,583 in the last quarter. 6.90% of the stock is currently owned by company insiders.

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.