Dakota Wealth Management Decreases Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Dakota Wealth Management reduced its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 39.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,007 shares of the financial services provider’s stock after selling 13,202 shares during the period. Dakota Wealth Management’s holdings in First Interstate BancSystem were worth $650,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. TNF LLC grew its position in First Interstate BancSystem by 1.5% in the third quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock worth $812,000 after acquiring an additional 367 shares in the last quarter. Wrapmanager Inc. boosted its holdings in shares of First Interstate BancSystem by 5.0% in the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 429 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of First Interstate BancSystem by 5.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 507 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in First Interstate BancSystem by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock valued at $1,370,000 after buying an additional 598 shares during the period. Finally, Inspire Investing LLC lifted its position in First Interstate BancSystem by 5.3% in the third quarter. Inspire Investing LLC now owns 13,422 shares of the financial services provider’s stock worth $412,000 after buying an additional 673 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Stock Down 0.1 %

Shares of NASDAQ:FIBK opened at $32.59 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. The business’s 50 day moving average is $33.16 and its 200 day moving average is $31.47. The stock has a market cap of $3.41 billion, a P/E ratio of 14.29 and a beta of 0.85. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same period in the previous year, the business posted $0.70 EPS. Sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 20,220 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $32.78, for a total transaction of $662,811.60. Following the sale, the insider now owns 635,069 shares of the company’s stock, valued at approximately $20,817,561.82. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the transaction, the director now directly owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. The trade was a 0.67 % 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 three months. Corporate insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.