First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 17.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 255,966 shares of the financial services provider’s stock after selling 52,694 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First Interstate BancSystem were worth $7,853,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. CWM LLC raised its position in shares of First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 430 shares in the last quarter. SG Americas Securities LLC increased its stake in First Interstate BancSystem by 79.5% during the second quarter. SG Americas Securities LLC now owns 18,021 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 7,979 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of First Interstate BancSystem during the second quarter worth $241,000. Leeward Investments LLC MA lifted its position in shares of First Interstate BancSystem by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 657,946 shares of the financial services provider’s stock worth $18,271,000 after buying an additional 34,817 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of First Interstate BancSystem in the 2nd quarter valued at about $267,000. 88.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FIBK shares. Stephens reiterated an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Piper Sandler cut 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. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Wells Fargo & Company raised their target price on First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and a consensus price target of $35.17.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $34.26 on Tuesday. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77. The stock’s fifty day moving average is $32.42 and its 200-day moving average is $30.09. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 15.03 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter in the prior year, the company earned $0.70 EPS. Equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem’s payout ratio is currently 82.46%.

Insider Activity

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 20,220 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the sale, the insider now directly owns 635,069 shares in the company, valued at approximately $20,817,561.82. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the transaction, the insider now owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. This trade represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,837 shares of company stock worth $1,839,583. 6.90% of the stock is owned by company 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.