Teacher Retirement System of Texas Lowers Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Teacher Retirement System of Texas lessened its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,943 shares of the financial services provider’s stock after selling 1,693 shares during the period. Teacher Retirement System of Texas’ holdings in First Interstate BancSystem were worth $777,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FIBK. Geode Capital Management LLC boosted its position in shares of First Interstate BancSystem by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock worth $61,152,000 after buying an additional 59,367 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of First Interstate BancSystem by 73.9% in the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock valued at $50,020,000 after purchasing an additional 654,688 shares in the last quarter. Wellington Management Group LLP grew its stake in First Interstate BancSystem by 6.5% during the third quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock worth $39,522,000 after buying an additional 78,596 shares during the period. Victory Capital Management Inc. raised its position in First Interstate BancSystem by 309.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider’s stock valued at $41,247,000 after purchasing an additional 960,372 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of First Interstate BancSystem by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,106,782 shares of the financial services provider’s stock valued at $35,937,000 after buying an additional 32,968 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction on Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the sale, the director now owns 1,414,886 shares in the company, valued at $46,068,688.16. The trade was 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 at this link. 6.90% of the stock is owned by corporate insiders.

First Interstate BancSystem Trading Down 1.8 %

Shares of NASDAQ FIBK opened at $28.59 on Monday. The business has a 50-day moving average price of $30.92 and a two-hundred day moving average price of $31.74. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77. The firm has a market capitalization of $2.99 billion, a PE ratio of 13.05 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.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. As a group, analysts predict that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio is 85.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FIBK shares. Barclays upped their price objective on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Stephens lowered their target price on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. UBS Group began coverage on First Interstate BancSystem in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price for the company. Finally, DA Davidson restated a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.14.

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.