Cypress Capital Management LLC WY Has $3.25 Million Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Cypress Capital Management LLC WY lowered its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,165 shares of the financial services provider’s stock after selling 3,000 shares during the quarter. First Interstate BancSystem comprises approximately 3.7% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 3rd biggest holding. Cypress Capital Management LLC WY owned 0.10% of First Interstate BancSystem worth $3,252,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FIBK. Geode Capital Management LLC lifted its holdings in shares of First Interstate BancSystem by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock valued at $61,152,000 after buying an additional 59,367 shares during the period. Wellington Management Group LLP boosted its position in First Interstate BancSystem by 6.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock worth $39,522,000 after acquiring an additional 78,596 shares during the period. Charles Schwab Investment Management Inc. grew its position in First Interstate BancSystem by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider’s stock valued at $32,945,000 after purchasing an additional 52,919 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of First Interstate BancSystem by 57.3% during the 3rd quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider’s stock valued at $27,176,000 after acquiring an additional 322,578 shares in the last quarter. Finally, Empower Advisory Group LLC increased its position in First Interstate BancSystem by 4.8% in the 3rd quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock worth $14,318,000 after purchasing an additional 21,191 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Julie A. Scott sold 22,050 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total transaction of $745,290.00. Following the sale, the insider now directly owns 613,019 shares in the company, valued at $20,720,042.20. This represents a 3.47 % decrease in their ownership of the stock. 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. Company insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

FIBK has been the subject of several research reports. DA Davidson reiterated a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Tuesday, December 24th. Stephens restated an “overweight” rating and set a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company reduced their price objective on First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and a consensus target price of $35.00.

First Interstate BancSystem Stock Performance

FIBK opened at $33.50 on Friday. The stock has a market cap of $3.50 billion, a PE ratio of 15.30 and a beta of 0.85. First Interstate BancSystem, Inc. has a 1 year low of $24.16 and a 1 year high of $36.77. The stock’s 50 day simple moving average is $33.14 and its 200-day simple moving average is $31.58. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date is Monday, February 10th. First Interstate BancSystem’s payout ratio is 85.85%.

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.