UBS Group AG Has $64.74 Million Holdings in First Interstate BancSystem, Inc. $FIBK

UBS Group AG lifted its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 6.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,870,942 shares of the financial services provider’s stock after purchasing an additional 116,838 shares during the quarter. UBS Group AG’s holdings in First Interstate BancSystem were worth $64,735,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Stockman Wealth Management Inc. increased its position in shares of First Interstate BancSystem by 0.5% during the fourth quarter. Stockman Wealth Management Inc. now owns 96,389 shares of the financial services provider’s stock worth $3,335,000 after buying an additional 520 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in shares of First Interstate BancSystem by 50.7% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 99,986 shares of the financial services provider’s stock worth $3,459,000 after buying an additional 33,627 shares during the period. Vanguard Group Inc. boosted its stake in First Interstate BancSystem by 13.7% during the fourth quarter. Vanguard Group Inc. now owns 10,048,419 shares of the financial services provider’s stock worth $347,675,000 after acquiring an additional 1,214,454 shares in the last quarter. Villere ST Denis J & Co. LLC boosted its stake in First Interstate BancSystem by 0.7% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 544,914 shares of the financial services provider’s stock worth $18,854,000 after acquiring an additional 3,945 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in First Interstate BancSystem by 1.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 119,608 shares of the financial services provider’s stock worth $4,138,000 after acquiring an additional 1,128 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FIBK has been the topic of several research analyst reports. Piper Sandler cut their target price on shares of First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $37.00 target price (down from $38.00) on shares of First Interstate BancSystem in a research note on Friday. DA Davidson increased their target price on shares of First Interstate BancSystem from $39.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday. Barclays cut their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, January 30th. Finally, UBS Group increased their target price on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the stock a “sell” rating in a research note on Friday. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.33.

First Interstate BancSystem Stock Down 1.3%

Shares of NASDAQ FIBK opened at $34.99 on Tuesday. The stock has a market capitalization of $3.54 billion, a P/E ratio of 11.40 and a beta of 0.77. The company has a 50-day moving average price of $34.19 and a 200-day moving average price of $34.45. First Interstate BancSystem, Inc. has a 1 year low of $25.81 and a 1 year high of $39.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.71 and a quick ratio of 0.70.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $41.10 million during the quarter, compared to analysts’ expectations of $242.78 million. First Interstate BancSystem had a net margin of 28.19% and a return on equity of 9.13%. During the same period last year, the company earned $0.49 earnings per share. On average, equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.69 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Monday, May 11th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Monday, May 11th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 61.24%.

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.