First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Dakota Wealth Management

Dakota Wealth Management lowered its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 13.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 33,209 shares of the financial services provider’s stock after selling 5,300 shares during the quarter. Dakota Wealth Management’s holdings in First Interstate BancSystem were worth $1,019,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in FIBK. CWM LLC grew its stake in First Interstate BancSystem by 16.0% in 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 during the period. PNC Financial Services Group Inc. boosted its stake in First Interstate BancSystem by 28.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 744 shares during the last quarter. Innealta Capital LLC acquired a new stake in First Interstate BancSystem during the 2nd quarter worth $106,000. nVerses Capital LLC boosted its stake in First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Telos Capital Management Inc. acquired a new stake in First Interstate BancSystem during the 3rd quarter worth $201,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analyst Ratings Changes

FIBK has been the topic of several recent research reports. StockNews.com cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Wells Fargo & Company cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 target price on shares of First Interstate BancSystem in a research note on Monday, August 26th. Barclays boosted their price target on shares of First Interstate BancSystem from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.17.

First Interstate BancSystem Stock Down 3.3 %

Shares of FIBK opened at $30.95 on Monday. The firm has a market cap of $3.24 billion, a P/E ratio of 12.33 and a beta of 0.81. First Interstate BancSystem, Inc. has a 12-month low of $22.68 and a 12-month high of $33.00. The company’s 50-day moving average price is $30.46 and its 200 day moving average price is $28.62. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. During the same quarter in the previous year, the business earned $0.70 earnings per share. On average, sell-side analysts forecast that First Interstate BancSystem, Inc. will post 2.34 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a $0.47 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 6.07%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 74.90%.

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.