Citigroup Inc. Has $4.80 Million Stock Holdings in First Interstate BancSystem, Inc. $FIBK

Citigroup Inc. trimmed its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 14.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,493 shares of the financial services provider’s stock after selling 24,466 shares during the period. Citigroup Inc. owned about 0.14% of First Interstate BancSystem worth $4,796,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. First Horizon Corp acquired a new stake in First Interstate BancSystem during the 3rd quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of First Interstate BancSystem by 139.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after buying an additional 862 shares during the period. Jones Financial Companies Lllp increased its position in shares of First Interstate BancSystem by 1,485.1% in the third quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 1,500 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of First Interstate BancSystem during the third quarter valued at approximately $75,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at approximately $131,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on FIBK. Keefe, Bruyette & Woods raised their price objective on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. DA Davidson reiterated a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 29th. Piper Sandler upped their price target on First Interstate BancSystem from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Wall Street Zen lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Sunday, February 15th. Finally, UBS Group reaffirmed a “neutral” rating and set a $38.00 target price on shares of First Interstate BancSystem in a research note on Wednesday, February 4th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, First Interstate BancSystem has an average rating of “Hold” and a consensus price target of $38.17.

Insiders Place Their Bets

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 3,173 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $36.20, for a total transaction of $114,862.60. Following the transaction, the insider directly owned 937,851 shares in the company, valued at $33,950,206.20. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.20% of the stock is currently owned by company insiders.

First Interstate BancSystem Price Performance

Shares of NASDAQ:FIBK opened at $34.73 on Wednesday. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 11.77 and a beta of 0.77. First Interstate BancSystem, Inc. has a 1 year low of $22.95 and a 1 year high of $39.26. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $36.70 and a 200 day simple moving average of $33.92.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Wednesday, January 28th. The financial services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.44. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 21.40%.The firm had revenue of $205.10 million for the quarter, compared to the consensus estimate of $256.89 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. As a group, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 5.4%. First Interstate BancSystem’s dividend payout ratio is 63.73%.

First Interstate BancSystem 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.