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

American Century Companies Inc. lowered its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 17.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,024,869 shares of the financial services provider’s stock after selling 423,013 shares during the quarter. American Century Companies Inc.’s holdings in First Interstate BancSystem were worth $65,748,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in First Interstate BancSystem in the 3rd quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of First Interstate BancSystem in the third quarter valued at about $69,000. KBC Group NV boosted its position 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 acquiring an additional 1,022 shares during the period. Cibc World Markets Corp acquired a new position in shares of First Interstate BancSystem in the fourth quarter valued at about $241,000. Finally, FourThought Financial Partners LLC bought a new position in First Interstate BancSystem during the fourth quarter worth about $242,000. 88.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’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 in the company, valued at $46,068,688.16. The trade was a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. DA Davidson restated a “buy” rating and set a $42.00 target price on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Barclays increased their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company lifted their price objective on First Interstate BancSystem from $29.00 to $30.00 and gave the company 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 report on Monday, March 3rd. Finally, Piper Sandler dropped their price target on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.14.

First Interstate BancSystem Price Performance

Shares of FIBK stock opened at $29.30 on Wednesday. The business has a fifty day simple moving average of $31.13 and a 200 day simple moving average of $31.75. The company has a market cap of $3.06 billion, a P/E 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, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results 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, sell-side analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

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

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.