Dakota Wealth Management Sells 13,202 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Dakota Wealth Management lessened its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 39.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,007 shares of the financial services provider’s stock after selling 13,202 shares during the quarter. Dakota Wealth Management’s holdings in First Interstate BancSystem were worth $650,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FIBK. Geode Capital Management LLC boosted its holdings in First Interstate BancSystem by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock worth $61,152,000 after purchasing an additional 59,367 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of First Interstate BancSystem by 6.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock worth $39,522,000 after buying an additional 78,596 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of First Interstate BancSystem by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider’s stock worth $32,945,000 after acquiring an additional 52,919 shares during the period. Jennison Associates LLC increased its position in First Interstate BancSystem by 57.3% during the third quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider’s stock valued at $27,176,000 after acquiring an additional 322,578 shares during the last quarter. Finally, Empower Advisory Group LLC lifted its holdings in First Interstate BancSystem by 4.8% in the third quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock valued at $14,318,000 after acquiring an additional 21,191 shares during the period. 88.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. DA Davidson raised shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and upped their target price for the company from $32.00 to $42.00 in a report on Tuesday, November 26th. Wells Fargo & Company decreased their price target on shares of First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. UBS Group assumed coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price objective for the company. Finally, Stephens reiterated an “overweight” rating and set a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and a consensus price target of $35.00.

First Interstate BancSystem Trading Down 0.1 %

Shares of FIBK stock opened at $32.59 on Friday. The stock has a fifty day simple moving average of $33.16 and a two-hundred day simple moving average of $31.47. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.77. The firm has a market capitalization of $3.41 billion, a PE ratio of 14.29 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same period in the prior year, the company posted $0.70 EPS. On average, analysts predict that First Interstate BancSystem, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Julie A. Scott sold 22,050 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the transaction, the insider now directly owns 613,019 shares of the company’s stock, valued at approximately $20,720,042.20. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the sale, the insider now owns 75,387 shares in the company, valued at approximately $2,600,851.50. The trade was a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,837 shares of company stock worth $1,839,583 over the last quarter. Insiders own 6.90% of the company’s stock.

First Interstate BancSystem Profile

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.