Massachusetts Financial Services Co. MA Sells 19,376 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Massachusetts Financial Services Co. MA decreased its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,972,001 shares of the financial services provider’s stock after selling 19,376 shares during the period. Massachusetts Financial Services Co. MA’s holdings in First Interstate BancSystem were worth $64,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in shares of First Interstate BancSystem during the third quarter valued at approximately $34,000. Meeder Asset Management Inc. bought a new stake in First Interstate BancSystem in the 4th quarter valued at $69,000. 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 lifted its holdings in shares of First Interstate BancSystem by 34.1% during the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 1,022 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in shares of First Interstate BancSystem during the 4th quarter valued at about $241,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Trading Down 3.6 %

NASDAQ FIBK opened at $24.72 on Friday. 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, Inc. has a 12 month low of $23.81 and a 12 month high of $36.77. The company has a market capitalization of $2.58 billion, a PE ratio of 11.29 and a beta of 0.81. The stock has a 50-day simple moving average of $30.38 and a 200 day simple moving average of $31.63.

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

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a yield of 7.61%. First Interstate BancSystem’s payout ratio is 85.84%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FIBK. DA Davidson reissued a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Piper Sandler decreased their price objective on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group assumed coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price for the company. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company boosted their price objective on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.14.

Insider Buying and Selling

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the transaction, the director now owns 1,414,886 shares in the company, valued at $46,068,688.16. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.