American Century Companies Inc. Sells 169,462 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

American Century Companies Inc. reduced its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 6.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,477,377 shares of the financial services provider’s stock after selling 169,462 shares during the quarter. American Century Companies Inc.’s holdings in First Interstate BancSystem were worth $68,797,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FIBK. Vanguard Group Inc. lifted its position in shares of First Interstate BancSystem by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock valued at $282,303,000 after buying an additional 533,293 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of First Interstate BancSystem by 36.2% during the 4th quarter. Franklin Resources Inc. now owns 5,453,783 shares of the financial services provider’s stock valued at $167,704,000 after buying an additional 1,449,219 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of First Interstate BancSystem by 20.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,590,707 shares of the financial services provider’s stock valued at $110,418,000 after buying an additional 620,682 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of First Interstate BancSystem by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 2,970,727 shares of the financial services provider’s stock valued at $91,350,000 after buying an additional 142,069 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of First Interstate BancSystem by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 931,047 shares of the financial services provider’s stock valued at $28,630,000 after buying an additional 42,580 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FIBK has been the topic of a number of analyst reports. DA Davidson lifted their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price target on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Stephens boosted their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their price target on First Interstate BancSystem from $25.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $38.00 price target on shares of First Interstate BancSystem in a report on Monday, August 26th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus price target of $33.33.

First Interstate BancSystem Stock Up 3.6 %

Shares of FIBK opened at $30.20 on Monday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 12.03 and a beta of 0.82. First Interstate BancSystem, Inc. has a 1 year low of $20.81 and a 1 year high of $33.00. The business’s 50 day simple moving average is $29.87 and its 200-day simple moving average is $27.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.79 and a quick ratio of 0.79.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. The business had revenue of $244.30 million for the quarter, compared to analysts’ expectations of $246.07 million. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. During the same period in the prior year, the firm earned $0.66 EPS. As a group, equities analysts expect that First Interstate BancSystem, Inc. will post 2.34 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.23%. The ex-dividend date was Monday, August 5th. First Interstate BancSystem’s dividend payout ratio is currently 74.90%.

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.