Sei Investments Co. Acquires 24,212 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Sei Investments Co. raised its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 565,473 shares of the financial services provider’s stock after buying an additional 24,212 shares during the period. Sei Investments Co. owned 0.54% of First Interstate BancSystem worth $18,361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FIBK. Point72 DIFC Ltd bought a new position in shares of First Interstate BancSystem in the 3rd quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of First Interstate BancSystem in the third quarter valued at approximately $69,000. KBC Group NV raised its position in shares of 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 purchasing an additional 1,022 shares during the period. Cibc World Markets Corp acquired a new stake in shares of First Interstate BancSystem in the fourth quarter worth $241,000. Finally, FourThought Financial Partners LLC bought a new stake in shares of First Interstate BancSystem during the 4th quarter worth $242,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Insider Buying and Selling

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction on 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 directly owns 1,414,886 shares in the company, valued at $46,068,688.16. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.90% of the company’s stock.

First Interstate BancSystem Price Performance

Shares of NASDAQ:FIBK opened at $29.10 on Friday. The firm has a market capitalization of $3.04 billion, a PE ratio of 13.29 and a beta of 0.84. 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, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77. The business’s 50 day moving average is $31.00 and its 200-day moving average is $31.71.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, topping 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%. Sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.46%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 85.84%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FIBK shares. Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. 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. Barclays raised their target price on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, 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, January 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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.