Oregon Public Employees Retirement Fund Purchases New Position in First Interstate BancSystem, Inc. $FIBK

Oregon Public Employees Retirement Fund purchased a new stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the 4th quarter, Holdings Channel reports. The fund purchased 20,500 shares of the financial services provider’s stock, valued at approximately $709,000.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in First Interstate BancSystem by 13.7% in the 4th quarter. Vanguard Group Inc. now owns 10,048,419 shares of the financial services provider’s stock worth $347,675,000 after buying an additional 1,214,454 shares in the last quarter. Wellington Management Group LLP grew its position in First Interstate BancSystem by 20.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,915,425 shares of the financial services provider’s stock worth $188,525,000 after purchasing an additional 1,003,021 shares during the period. Dimensional Fund Advisors LP grew its position in First Interstate BancSystem by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,495,403 shares of the financial services provider’s stock worth $175,140,000 after purchasing an additional 78,835 shares during the period. State Street Corp grew its position in First Interstate BancSystem by 2.3% in the 2nd quarter. State Street Corp now owns 4,050,473 shares of the financial services provider’s stock worth $116,735,000 after purchasing an additional 92,715 shares during the period. Finally, HoldCo Asset Management LP grew its position in First Interstate BancSystem by 10.6% in the 3rd quarter. HoldCo Asset Management LP now owns 3,950,107 shares of the financial services provider’s stock worth $125,890,000 after purchasing an additional 380,000 shares during the period. 88.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FIBK shares. Stephens downgraded First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a research note on Thursday, February 5th. UBS Group boosted their price target on First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Friday, May 1st. Piper Sandler cut 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 report on Thursday, April 2nd. Wall Street Zen raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, Barclays dropped their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, January 30th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus price target of $37.33.

First Interstate BancSystem Stock Down 0.1%

FIBK opened at $34.36 on Wednesday. The firm has a 50-day simple moving average of $34.09 and a two-hundred day simple moving average of $34.74. First Interstate BancSystem, Inc. has a 52 week low of $25.81 and a 52 week high of $39.26. The company has a market capitalization of $3.34 billion, a PE ratio of 11.19 and a beta of 0.77. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $5.10 million during the quarter, compared to the consensus estimate of $242.78 million. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.13%. During the same quarter in the prior year, the firm earned $0.49 EPS. Analysts forecast that First Interstate BancSystem, Inc. will post 2.66 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Monday, May 11th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Monday, May 11th. First Interstate BancSystem’s dividend payout ratio 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.