Point72 DIFC Ltd Takes Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Point72 DIFC Ltd acquired a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 1,098 shares of the financial services provider’s stock, valued at approximately $34,000.

Several other institutional investors have also recently added to or reduced their stakes in FIBK. Dimensional Fund Advisors LP boosted its position 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 during the period. Empower Advisory Group LLC boosted its holdings in First Interstate BancSystem by 4.8% during the 3rd quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock valued at $14,318,000 after acquiring an additional 21,191 shares during the period. Versor Investments LP acquired a new position in First Interstate BancSystem in the 3rd quarter valued at about $914,000. Kestra Investment Management LLC purchased a new stake in First Interstate BancSystem during the third quarter worth about $789,000. Finally, CWM LLC lifted its position in shares of First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 430 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays raised their price target 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. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. DA Davidson raised First Interstate BancSystem from a “neutral” rating to a “buy” rating and increased their price target for the company from $32.00 to $42.00 in a research report on Tuesday, November 26th. Piper Sandler lowered their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, Wells Fargo & Company upped 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, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.17.

Insider Activity

In other news, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares of the company’s stock, valued at $2,600,851.50. The trade was a 7.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the transaction, the director now directly 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 valued at $1,839,583 in the last ninety days. Company insiders own 6.90% of the company’s stock.

First Interstate BancSystem Trading Down 0.6 %

Shares of First Interstate BancSystem stock opened at $34.26 on Tuesday. The business has a 50 day moving average price of $32.42 and a 200 day moving average price of $30.09. The company has a market capitalization of $3.58 billion, a P/E ratio of 15.03 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. 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 Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter last year, the business posted $0.70 earnings per share. Sell-side analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.47 dividend. 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 (DPR) is presently 82.46%.

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.