Allspring Global Investments Holdings LLC Has $3.36 Million Stake in First Interstate BancSystem, Inc. $FIBK

Allspring Global Investments Holdings LLC decreased its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 43.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,931 shares of the financial services provider’s stock after selling 71,964 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.09% of First Interstate BancSystem worth $3,360,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. First Horizon Corp bought a new position in First Interstate BancSystem in the 3rd quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its position in First Interstate BancSystem by 139.3% during the 2nd 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 in the last quarter. GAMMA Investing LLC lifted its position in First Interstate BancSystem by 49.6% during the 4th quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock worth $54,000 after buying an additional 516 shares in the last quarter. Jones Financial Companies Lllp lifted its position in First Interstate BancSystem by 1,485.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,500 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in First Interstate BancSystem during the 3rd quarter worth about $52,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

Shares of NASDAQ:FIBK opened at $33.22 on Wednesday. The stock has a market capitalization of $3.36 billion, a P/E ratio of 11.26 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 50-day moving average price of $35.20 and a two-hundred day moving average price of $34.14.

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

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Tuesday, February 10th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Tuesday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 63.73%.

Analyst Ratings Changes

FIBK has been the topic of several research reports. Barclays reduced their price target on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, January 30th. Weiss Ratings raised shares of First Interstate BancSystem from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 2nd. Keefe, Bruyette & Woods increased their price target on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. UBS Group cut shares of First Interstate BancSystem from a “neutral” rating to a “sell” rating and decreased their price target for the company from $38.00 to $35.00 in a research note on Tuesday. Finally, DA Davidson reissued a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.17.

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.