First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBKFree Report) by 15.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,411 shares of the financial services provider’s stock after selling 1,839 shares during the period. Principal Financial Group Inc.’s holdings in First Interstate BancSystem were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of FIBK. Global Retirement Partners LLC boosted its stake in First Interstate BancSystem by 132.8% in the 4th 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 in the last quarter. Wolverine Asset Management LLC acquired a new stake in First Interstate BancSystem in the 4th quarter worth approximately $39,000. CWM LLC boosted its stake in First Interstate BancSystem by 42.1% in the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 702 shares in the last quarter. Headlands Technologies LLC acquired a new stake in First Interstate BancSystem in the 3rd quarter worth approximately $81,000. Finally, Nisa Investment Advisors LLC lifted its stake in First Interstate BancSystem by 99.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,870 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 2,430 shares during the period. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total value of $77,604.00. Following the completion of the sale, the executive vice president now owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FIBK has been the subject of several research reports. Keefe, Bruyette & Woods lifted 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 research note on Friday, April 26th. Stephens restated an “overweight” rating and set a $32.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, April 25th. TheStreet cut shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Finally, Piper Sandler lifted their price objective on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.20.

Check Out Our Latest Stock Report on FIBK

First Interstate BancSystem Price Performance

NASDAQ:FIBK opened at $25.95 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 10.34 and a beta of 0.82. The company has a 50 day moving average price of $26.66 and a 200-day moving average price of $27.38. First Interstate BancSystem, Inc. has a 1-year low of $20.81 and a 1-year high of $32.54.

First Interstate BancSystem (NASDAQ:FIBKGet Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.04. The firm had revenue of $242.20 million during the quarter, compared to analyst estimates of $236.80 million. First Interstate BancSystem had a net margin of 17.76% and a return on equity of 8.51%. Equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 7.24%. The ex-dividend date of this dividend was Friday, May 3rd. First Interstate BancSystem’s payout ratio is presently 74.90%.

About First Interstate BancSystem

(Free Report)

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.

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Institutional Ownership by Quarter for First Interstate BancSystem (NASDAQ:FIBK)

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