Barclays PLC Has $6.33 Million Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Barclays PLC lifted its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 18.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,213 shares of the financial services provider’s stock after purchasing an additional 32,298 shares during the quarter. Barclays PLC owned 0.20% of First Interstate BancSystem worth $6,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FIBK. TNF LLC raised its stake in First Interstate BancSystem by 1.5% during the third quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock worth $812,000 after acquiring an additional 367 shares in the last quarter. Caprock Group LLC grew its holdings in shares of First Interstate BancSystem by 1.7% in the 2nd quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 422 shares during the last quarter. Wrapmanager Inc. increased its position in shares of First Interstate BancSystem by 5.0% during the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 429 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of First Interstate BancSystem by 5.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 507 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in First Interstate BancSystem by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock valued at $1,370,000 after purchasing an additional 598 shares during the last quarter. 88.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on FIBK. Piper Sandler dropped their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Stephens reaffirmed an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a report on Thursday, October 10th. UBS Group began coverage on First Interstate BancSystem in a research report on Tuesday. They issued a “neutral” rating and a $35.00 price objective for the company. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Finally, Wells Fargo & Company lifted their price target on First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $35.14.

Insiders Place Their Bets

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the transaction, the insider now owns 75,387 shares in the company, valued at approximately $2,600,851.50. This represents a 7.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan R. Scott sold 6,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the sale, the director now owns 958,710 shares in the company, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock worth $1,839,583 over the last ninety days. 6.90% of the stock is currently owned by corporate insiders.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $31.52 on Friday. The stock has a market cap of $3.29 billion, a P/E ratio of 13.82 and a beta of 0.84. 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 moving average price is $33.05 and its two-hundred day moving average price is $30.42. 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 released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate 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 business posted $0.70 EPS. On average, equities analysts predict that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a $0.47 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.96%. First Interstate BancSystem’s payout ratio is 82.46%.

About First Interstate BancSystem

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.