SG Americas Securities LLC Has $2.62 Million Stock Holdings in First Interstate BancSystem, Inc. $FIBK

SG Americas Securities LLC boosted its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 180.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,583 shares of the financial services provider’s stock after purchasing an additional 48,648 shares during the quarter. SG Americas Securities LLC owned about 0.07% of First Interstate BancSystem worth $2,615,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of First Interstate BancSystem by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,495,403 shares of the financial services provider’s stock worth $175,140,000 after buying an additional 78,835 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in First Interstate BancSystem in the 3rd quarter valued at about $2,115,000. Vestmark Advisory Solutions Inc. bought a new position in First Interstate BancSystem in the 3rd quarter valued at about $895,000. Cambria Investment Management L.P. acquired a new stake in First Interstate BancSystem during the third quarter worth approximately $9,083,000. Finally, HoldCo Asset Management LP lifted its position in First Interstate BancSystem by 10.6% during the third quarter. HoldCo Asset Management LP now owns 3,950,107 shares of the financial services provider’s stock worth $125,890,000 after acquiring an additional 380,000 shares during the last quarter. 88.71% of the stock is owned by institutional investors.

First Interstate BancSystem Price Performance

NASDAQ FIBK opened at $33.48 on Friday. 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 company has a market cap of $3.39 billion, a price-to-earnings ratio of 11.35 and a beta of 0.77. The company has a 50 day moving average of $35.33 and a 200-day moving average of $34.12. First Interstate BancSystem, Inc. has a 1-year low of $22.95 and a 1-year high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.44. The business had revenue of $205.10 million for the quarter, compared to the consensus estimate of $256.89 million. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 21.40%.The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 earnings per share. On average, equities research analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Tuesday, February 10th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, February 10th. First Interstate BancSystem’s dividend payout ratio is 63.73%.

Insider Activity at First Interstate BancSystem

In related news, major shareholder Jonathan R. Scott sold 3,173 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $36.20, for a total value of $114,862.60. Following the completion of the transaction, the insider owned 937,851 shares of the company’s stock, valued at $33,950,206.20. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

FIBK has been the topic of several research reports. Keefe, Bruyette & Woods upped their target price on First Interstate BancSystem from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Piper Sandler dropped their price target on First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday. Stephens lowered First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 5th. Weiss Ratings upgraded First Interstate BancSystem from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their target price on First Interstate BancSystem from $30.00 to $36.00 and gave the stock an “underweight” rating in a report on Monday, March 30th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.67.

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.