Cypress Capital Management LLC WY Has $4.05 Million Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Cypress Capital Management LLC WY decreased its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,802 shares of the financial services provider’s stock after selling 2,475 shares during the period. First Interstate BancSystem comprises approximately 4.4% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 3rd biggest holding. Cypress Capital Management LLC WY owned about 0.13% of First Interstate BancSystem worth $4,053,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Global Retirement Partners LLC grew its holdings in First Interstate BancSystem by 132.8% in the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in First Interstate BancSystem in the fourth quarter worth $39,000. CWM LLC grew its holdings in First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 702 shares during the last quarter. Headlands Technologies LLC purchased a new position in First Interstate BancSystem in the third quarter worth $81,000. Finally, Signaturefd LLC grew its holdings in First Interstate BancSystem by 22.0% in the third quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

Analysts Set New Price Targets

FIBK has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Barclays boosted their price objective on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday. Keefe, Bruyette & Woods boosted their price objective on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Friday. Stephens reissued an “overweight” rating and set a $32.00 price objective on shares of First Interstate BancSystem in a report on Thursday. Finally, Piper Sandler boosted their price objective on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.20.

Insider Transactions at First Interstate BancSystem

In other news, EVP Karlyn M. Knieriem sold 2,900 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the sale, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total value of $77,604.00. Following the transaction, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kristina Robbins sold 2,710 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the completion of the transaction, the executive vice president now directly owns 9,047 shares in the company, valued at $233,684.01. The disclosure for this sale can be found here. Insiders have sold a total of 7,531 shares of company stock valued at $197,645 in the last ninety days. 6.90% of the stock is currently owned by corporate insiders.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK traded up $0.16 during mid-day trading on Monday, hitting $27.16. The company’s stock had a trading volume of 359,286 shares, compared to its average volume of 824,599. First Interstate BancSystem, Inc. has a 1 year low of $20.81 and a 1 year high of $32.54. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 10.93 and a beta of 0.87. The business’s fifty day moving average is $26.10 and its two-hundred day moving average is $26.71.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. The company had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. Analysts anticipate that First Interstate BancSystem, Inc. will post 2.17 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend is Friday, May 3rd. First Interstate BancSystem’s payout ratio is currently 74.90%.

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.