UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 17.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 255,966 shares of the financial services provider’s stock after selling 52,694 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.24% of First Interstate BancSystem worth $7,853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in FIBK. Dimensional Fund Advisors LP grew its holdings in shares of First Interstate BancSystem by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock worth $127,204,000 after buying an additional 367,212 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in First Interstate BancSystem by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider’s stock worth $56,974,000 after acquiring an additional 32,348 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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 worth $32,945,000 after acquiring an additional 52,919 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of First Interstate BancSystem by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 887,559 shares of the financial services provider’s stock worth $24,648,000 after purchasing an additional 11,493 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of First Interstate BancSystem by 57.3% during the third quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider’s stock worth $27,176,000 after purchasing an additional 322,578 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Insider Activity

In other news, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the sale, the director now directly owns 958,710 shares in the company, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Julie A. Scott sold 22,050 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the transaction, the insider now owns 613,019 shares in the company, valued at approximately $20,720,042.20. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,837 shares of company stock worth $1,839,583 over the last 90 days. Company insiders own 6.90% of the company’s stock.

First Interstate BancSystem Stock Down 0.6 %

Shares of First Interstate BancSystem stock opened at $34.26 on Tuesday. First Interstate BancSystem, Inc. has a twelve month low of $24.16 and a twelve month high of $36.77. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 15.03 and a beta of 0.84. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average price of $32.42 and a 200 day moving average price of $30.09.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results 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 period in the previous year, the company posted $0.70 earnings per share. Equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.49%. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

Wall Street Analysts Forecast Growth

FIBK has been the topic of several recent analyst reports. Barclays increased their price objective on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Stephens reaffirmed an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. DA Davidson raised shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $32.00 to $42.00 in a research note on Tuesday, November 26th. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Finally, Piper Sandler reduced their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.17.

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.