Natixis Advisors LLC Makes New $1.37 Million Investment in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Natixis Advisors LLC bought a new stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 42,057 shares of the financial services provider’s stock, valued at approximately $1,366,000.

Other large investors have also recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new stake in First Interstate BancSystem in the third quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of First Interstate BancSystem in the 3rd quarter valued at $69,000. KBC Group NV increased its holdings in shares of First Interstate BancSystem by 34.1% in the 4th 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. FourThought Financial Partners LLC purchased a new stake in First Interstate BancSystem in the 4th quarter valued at $242,000. Finally, Point72 Asset Management L.P. purchased a new position in First Interstate BancSystem during the 3rd quarter worth $273,000. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $29.30 on Wednesday. The company’s fifty day moving average is $31.13 and its two-hundred day moving average is $31.75. 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 $3.06 billion, a P/E ratio of 13.38 and a beta of 0.84. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data 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%. Analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.42%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem’s payout ratio is currently 85.84%.

Insider Buying and Selling

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the transaction, the director now owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FIBK has been the subject of several recent research reports. UBS Group initiated coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price for the company. Barclays increased their price objective 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. Stephens dropped their target price on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. 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. Finally, StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.14.

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.