American Century Companies Inc. Sells 423,013 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

American Century Companies Inc. reduced its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 17.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,024,869 shares of the financial services provider’s stock after selling 423,013 shares during the period. American Century Companies Inc. owned 1.94% of First Interstate BancSystem worth $65,748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FIBK. Victory Capital Management Inc. lifted its stake in First Interstate BancSystem by 309.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider’s stock valued at $41,247,000 after buying an additional 960,372 shares during the period. Jennison Associates LLC grew its holdings in First Interstate BancSystem by 73.9% during the fourth quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock valued at $50,020,000 after purchasing an additional 654,688 shares during the period. Raymond James Financial Inc. bought a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $10,451,000. Harbor Capital Advisors Inc. raised its holdings 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. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of 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 worth $6,485,000 after purchasing an additional 105,670 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $29.30 on Wednesday. First Interstate BancSystem, Inc. has a 12 month low of $24.16 and a 12 month high of $36.77. The company’s fifty day simple moving average is $31.13 and its 200-day simple moving average is $31.75. The firm has a market cap of $3.06 billion, a PE ratio of 13.38 and a beta of 0.84. 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 (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 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%. Equities research analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 6.42%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 85.84%.

Analysts Set New Price Targets

A number of research firms recently commented on FIBK. UBS Group assumed coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price objective for the company. Wells Fargo & Company increased their price target on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Piper Sandler dropped 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 report on Monday, February 3rd. Finally, DA Davidson reiterated a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, First Interstate BancSystem has a consensus rating of “Hold” and a consensus target price of $36.14.

Insider Buying and Selling at First Interstate BancSystem

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 shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the sale, the director now owns 1,414,886 shares in the company, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 6.90% of the company’s stock.

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.