First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. decreased its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 10.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 26,158 shares of the financial services provider’s stock after selling 2,946 shares during the quarter. Bahl & Gaynor Inc.’s holdings in First Interstate BancSystem were worth $849,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FIBK. Charles Schwab Investment Management Inc. boosted its stake in First Interstate BancSystem by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,106,782 shares of the financial services provider’s stock valued at $35,937,000 after acquiring an additional 32,968 shares in the last quarter. FourThought Financial Partners LLC acquired a new stake in shares of First Interstate BancSystem in the 4th quarter valued at about $242,000. Allied Investment Advisors LLC boosted its position in shares of First Interstate BancSystem by 32.0% in the 4th quarter. Allied Investment Advisors LLC now owns 13,480 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 3,270 shares during the period. New York State Common Retirement Fund grew its stake in First Interstate BancSystem by 14.0% during the 4th quarter. New York State Common Retirement Fund now owns 26,866 shares of the financial services provider’s stock worth $872,000 after buying an additional 3,300 shares during the last quarter. Finally, Kestra Investment Management LLC increased its position in First Interstate BancSystem by 105.1% during the fourth quarter. Kestra Investment Management LLC now owns 52,757 shares of the financial services provider’s stock worth $1,713,000 after buying an additional 27,030 shares during the period. 88.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $32.56, for a total value 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 approximately $46,068,688.16. The trade was a 0.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FIBK. Stephens lowered their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson reaffirmed a “buy” rating and issued a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. Piper Sandler lowered their price target on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company upped their price objective on First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.14.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $28.87 on Thursday. 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 12-month low of $24.16 and a 12-month high of $36.77. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 13.18 and a beta of 0.85. The stock has a 50 day simple moving average of $32.04 and a 200-day simple moving average of $31.88.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 EPS 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%. On average, equities analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

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

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.