First Interstate BancSystem, Inc. $FIBK Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 9.3% during the 2nd quarter, Holdings Channel reports. The firm owned 163,237 shares of the financial services provider’s stock after selling 16,720 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First Interstate BancSystem were worth $6,294,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Eurizon Capital SGR S.p.A. purchased a new position in shares of First Interstate BancSystem during the 4th quarter worth approximately $25,000. Kestra Advisory Services LLC acquired a new position in shares of First Interstate BancSystem during the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after buying an additional 862 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in First Interstate BancSystem in the 3rd quarter valued at approximately $52,000. Finally, Danske Bank A S acquired a new stake in First Interstate BancSystem during the 3rd quarter valued at $57,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

First Interstate BancSystem Trading Down 1.7%

Shares of FIBK opened at $37.22 on Wednesday. First Interstate BancSystem, Inc. has a fifty-two week low of $29.10 and a fifty-two week high of $40.60. The company has a market capitalization of $3.55 billion, a PE ratio of 11.45 and a beta of 0.75. The stock has a fifty day moving average of $38.20 and a two-hundred day moving average of $36.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.69 and a current ratio of 0.69.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.18. The business had revenue of $263.90 million during the quarter, compared to the consensus estimate of $249.32 million. First Interstate BancSystem had a return on equity of 9.55% and a net margin of 23.63%.The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. As a group, analysts forecast that First Interstate BancSystem, Inc. will post 2.84 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Tuesday, August 4th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Tuesday, August 4th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 57.85%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FIBK. Barclays cut First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $38.00 to $37.00 in a report on Monday, August 3rd. DA Davidson reiterated a “neutral” rating and set a $39.00 price objective on shares of First Interstate BancSystem in a research report on Monday, July 27th. Wells Fargo & Company reissued an “underweight” rating and issued a $34.00 target price (down from $36.00) on shares of First Interstate BancSystem in a research note on Monday, August 10th. Wall Street Zen upgraded shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Monday, June 22nd. Finally, Weiss Ratings raised shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $36.83.

Insider Activity

In other news, major shareholder Julie A. Scott sold 15,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.97, for a total transaction of $539,550.00. Following the transaction, the insider directly owned 488,359 shares in the company, valued at $17,566,273.23. This represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Jonathan R. Scott sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $36.29, for a total transaction of $163,305.00. Following the completion of the sale, the insider directly owned 862,128 shares in the company, valued at $31,286,625.12. This represents a 0.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.00% of the stock is owned by insiders.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.