JPMorgan Chase & Co. Has $95.36 Million Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

JPMorgan Chase & Co. boosted its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,936,868 shares of the financial services provider’s stock after buying an additional 107,774 shares during the period. JPMorgan Chase & Co.’s holdings in First Interstate BancSystem were worth $95,360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Point72 DIFC Ltd bought a new position in shares of First Interstate BancSystem during the 3rd quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in First Interstate BancSystem during the third quarter worth about $69,000. KBC Group NV boosted its holdings in First Interstate BancSystem by 34.1% during the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,022 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of First Interstate BancSystem in the 4th quarter worth approximately $241,000. Finally, FourThought Financial Partners LLC acquired a new position in shares of First Interstate BancSystem in the 4th quarter worth approximately $242,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

Shares of FIBK stock opened at $28.72 on Thursday. 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 firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 13.11 and a beta of 0.84. The firm’s 50 day moving average is $30.68 and its 200-day moving average is $31.70. First Interstate BancSystem, Inc. has a 1 year low of $24.16 and a 1 year high of $36.77.

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

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 6.55%. First Interstate BancSystem’s dividend payout ratio is currently 85.84%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FIBK shares. Keefe, Bruyette & Woods upped their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Barclays lifted their price target on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. UBS Group began coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price objective on the stock. Finally, Stephens cut their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.14.

Insider Buying and Selling at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the transaction, the director now directly owns 1,414,886 shares in the company, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.90% of the company’s stock.

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.