Hsbc Holdings PLC Grows Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Hsbc Holdings PLC boosted its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 39.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,058 shares of the financial services provider’s stock after buying an additional 5,973 shares during the period. Hsbc Holdings PLC’s holdings in First Interstate BancSystem were worth $685,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of First Interstate BancSystem by 6.8% in the fourth quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider’s stock valued at $299,691,000 after acquiring an additional 587,975 shares in the last quarter. FMR LLC boosted its holdings in First Interstate BancSystem by 35.5% in the 4th quarter. FMR LLC now owns 6,786,334 shares of the financial services provider’s stock valued at $220,352,000 after purchasing an additional 1,778,269 shares in the last quarter. Franklin Resources Inc. increased its position in First Interstate BancSystem by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 5,474,757 shares of the financial services provider’s stock worth $177,765,000 after purchasing an additional 145,842 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of First Interstate BancSystem by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,045,741 shares of the financial services provider’s stock worth $163,836,000 after buying an additional 138,050 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of First Interstate BancSystem by 3.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,936,868 shares of the financial services provider’s stock valued at $95,360,000 after buying an additional 107,774 shares in the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Stock Down 1.2 %

Shares of NASDAQ:FIBK opened at $26.72 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $2.79 billion, a P/E ratio of 12.20 and a beta of 0.76. First Interstate BancSystem, Inc. has a 52-week low of $22.95 and a 52-week high of $36.77. The stock’s fifty day simple moving average is $27.51 and its 200-day simple moving average is $30.91.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The firm had revenue of $42.00 million for the quarter, compared to analysts’ expectations of $253.50 million. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. As a group, equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend is Monday, May 12th. First Interstate BancSystem’s dividend payout ratio (DPR) is 89.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FIBK shares. Stephens lowered their price target on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. StockNews.com cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Friday. Wells Fargo & Company decreased their price target on First Interstate BancSystem from $30.00 to $25.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 9th. Piper Sandler reduced their price objective on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. 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. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, First Interstate BancSystem has an average rating of “Hold” and an average price target of $35.00.

Insider Activity

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.20% 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.