Cullen Capital Management LLC Has $586,000 Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Cullen Capital Management LLC boosted its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 12.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,056 shares of the financial services provider’s stock after acquiring an additional 2,069 shares during the quarter. Cullen Capital Management LLC’s holdings in First Interstate BancSystem were worth $586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in First Interstate BancSystem in the 3rd quarter valued at $34,000. Meeder Asset Management Inc. bought a new position in shares of First Interstate BancSystem in the fourth quarter valued at about $69,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of First Interstate BancSystem during the 3rd quarter worth about $69,000. KBC Group NV boosted its holdings 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 buying an additional 1,022 shares during the period. Finally, Cibc World Markets Corp acquired a new position in First Interstate BancSystem in the 4th quarter valued at about $241,000. Institutional investors own 88.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group started coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price objective for the company. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Piper Sandler decreased their price objective 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. Stephens dropped their target price on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company boosted their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Two equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.14.

First Interstate BancSystem Trading Down 3.6 %

FIBK opened at $24.72 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a twelve month low of $23.81 and a twelve month high of $36.77. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 11.29 and a beta of 0.81. The company has a 50-day simple moving average of $30.38 and a 200 day simple moving average of $31.63.

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 (EPS) for the quarter, topping 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 6.92%. Analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.61%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 85.84%.

Insider Buying and Selling

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction that occurred on 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 $46,068,688.16. This represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.90% of the stock is owned by corporate insiders.

First Interstate BancSystem Company 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.