20,500 Shares in First Interstate BancSystem, Inc. $FIBK Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund purchased a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,500 shares of the financial services provider’s stock, valued at approximately $709,000.

Several other hedge funds have also added to or reduced their stakes in the business. Naples Global Advisors LLC lifted its stake in First Interstate BancSystem by 10.6% in the fourth quarter. Naples Global Advisors LLC now owns 9,360 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 900 shares during the last quarter. Northern Capital Management Inc. lifted its position in First Interstate BancSystem by 0.5% in the fourth quarter. Northern Capital Management Inc. now owns 52,100 shares of the financial services provider’s stock valued at $1,803,000 after purchasing an additional 275 shares during the last quarter. McIlrath & Eck LLC bought a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $294,000. Tweedy Browne Co LLC lifted its position in First Interstate BancSystem by 16.7% in the fourth quarter. Tweedy Browne Co LLC now owns 31,775 shares of the financial services provider’s stock valued at $1,099,000 after purchasing an additional 4,536 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $683,000. 88.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FIBK. Wells Fargo & Company upped their price objective on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the company an “underweight” rating in a research note on Monday, March 30th. Piper Sandler lowered their price objective on shares of First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $37.00 price objective (down from $38.00) on shares of First Interstate BancSystem in a research note on Friday, May 1st. DA Davidson upped their target price on First Interstate BancSystem from $39.00 to $41.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, UBS Group upped their target price on First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a report on Friday, May 1st. Three 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.33.

First Interstate BancSystem Price Performance

FIBK opened at $34.36 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $34.09 and a two-hundred day simple moving average of $34.74. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 11.19 and a beta of 0.77. First Interstate BancSystem, Inc. has a 12-month low of $25.81 and a 12-month high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.13%. The company had revenue of $5.10 million during the quarter, compared to analyst estimates of $242.78 million. During the same period last year, the business earned $0.49 EPS. Research analysts predict that First Interstate BancSystem, Inc. will post 2.66 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, May 11th. This represents a $1.88 annualized dividend and a dividend yield of 5.5%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 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.