Hsbc Holdings PLC Sells 24,464 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Hsbc Holdings PLC trimmed its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 46.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,868 shares of the financial services provider’s stock after selling 24,464 shares during the quarter. Hsbc Holdings PLC’s holdings in First Interstate BancSystem were worth $860,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Caprock Group LLC grew its position in First Interstate BancSystem by 1.8% in the fourth quarter. Caprock Group LLC now owns 24,814 shares of the financial services provider’s stock worth $763,000 after acquiring an additional 443 shares in the last quarter. Global Retirement Partners LLC grew its position in First Interstate BancSystem by 132.8% in the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 530 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of First Interstate BancSystem by 22.0% during the 3rd quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider’s stock worth $97,000 after buying an additional 700 shares during the period. CWM LLC boosted its holdings in shares of First Interstate BancSystem by 42.1% during the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after buying an additional 702 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in shares of First Interstate BancSystem by 5.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 15,268 shares of the financial services provider’s stock worth $381,000 after buying an additional 853 shares during the period. 88.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on FIBK. Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Piper Sandler upped their price objective on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday. Wells Fargo & Company upped their price objective on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. TheStreet downgraded shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. Finally, Stephens reaffirmed an “overweight” rating and set a $32.00 price objective on shares of First Interstate BancSystem in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, First Interstate BancSystem currently has a consensus rating of “Hold” and an average price target of $30.20.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK traded up $0.43 during trading hours on Thursday, hitting $27.89. 515,858 shares of the company traded hands, compared to its average volume of 822,321. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 11.12 and a beta of 0.85. First Interstate BancSystem, Inc. has a twelve month low of $20.81 and a twelve month high of $32.54. The firm has a 50-day moving average of $26.15 and a 200 day moving average of $26.76. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $252.30 million during the quarter, compared to analysts’ expectations of $254.50 million. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. On average, analysts forecast that First Interstate BancSystem, Inc. will post 2.25 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date of this dividend is Friday, May 3rd. First Interstate BancSystem’s dividend payout ratio is 74.90%.

Insider Activity

In other news, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total value of $69,999.30. Following the completion of the transaction, the executive vice president now owns 9,047 shares in the company, valued at approximately $233,684.01. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the sale, the insider now owns 6,909 shares in the company, valued at approximately $179,979.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total transaction of $69,999.30. Following the sale, the executive vice president now owns 9,047 shares of the company’s stock, valued at approximately $233,684.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,531 shares of company stock worth $197,645. 6.90% of the stock is currently owned by corporate insiders.

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.