Sei Investments Co. Has $18.36 Million Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Sei Investments Co. grew its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 4.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 565,473 shares of the financial services provider’s stock after buying an additional 24,212 shares during the quarter. Sei Investments Co.’s holdings in First Interstate BancSystem were worth $18,361,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in First Interstate BancSystem during the 3rd quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of First Interstate BancSystem in the third quarter valued at $69,000. KBC Group NV raised its holdings 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 buying an additional 1,022 shares during the last quarter. Cibc World Markets Corp bought a new stake in First Interstate BancSystem during the 4th quarter worth about $241,000. Finally, FourThought Financial Partners LLC bought a new stake in First Interstate BancSystem during the 4th quarter worth about $242,000. Institutional investors own 88.71% of the company’s stock.

Insider Transactions at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s 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 sale, the director now owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FIBK. Piper Sandler reduced their target price on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays upped their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. 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 target on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $36.14.

First Interstate BancSystem Trading Down 0.5 %

NASDAQ FIBK opened at $29.10 on Friday. 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 capitalization of $3.04 billion, a PE ratio of 13.29 and a beta of 0.84. The stock has a 50-day simple moving average of $31.00 and a 200 day simple moving average of $31.71.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. Research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

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

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.