First Interstate BancSystem, Inc. (NASDAQ:FIBK) Position Reduced by Hantz Financial Services Inc.

Hantz Financial Services Inc. trimmed its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 99,973 shares of the financial services provider’s stock after selling 3,689 shares during the period. Hantz Financial Services Inc.’s holdings in First Interstate BancSystem were worth $3,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Jennison Associates LLC boosted its holdings in shares of First Interstate BancSystem by 57.3% during the third quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider’s stock valued at $27,176,000 after acquiring an additional 322,578 shares during the period. Harbor Capital Advisors Inc. lifted its position in First Interstate BancSystem by 37,734.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider’s stock worth $4,595,000 after purchasing an additional 141,128 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in First Interstate BancSystem by 100.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 211,390 shares of the financial services provider’s stock valued at $6,485,000 after buying an additional 105,670 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of First Interstate BancSystem by 6.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock worth $39,522,000 after purchasing an additional 78,596 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of First Interstate BancSystem in the third quarter valued at $2,362,000. 88.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the transaction, the director now owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. This represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Julie A. Scott sold 20,220 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 635,069 shares in the company, valued at $20,817,561.82. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,837 shares of company stock worth $1,839,583 in the last 90 days. Corporate insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FIBK. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Wells Fargo & Company cut their price target on First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Piper Sandler reduced their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. UBS Group initiated coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price target on the stock. Finally, Barclays boosted their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.00.

First Interstate BancSystem Price Performance

NASDAQ:FIBK opened at $33.50 on Friday. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 14.69 and a beta of 0.85. The company has a 50-day moving average of $33.14 and a 200-day moving average of $31.58. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $36.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. As a group, equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.2 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend is Monday, February 10th. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

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.