Cypress Capital Management LLC WY Sells 2,475 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Cypress Capital Management LLC WY trimmed its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,802 shares of the financial services provider’s stock after selling 2,475 shares during the quarter. First Interstate BancSystem accounts for 4.4% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 3rd largest holding. Cypress Capital Management LLC WY’s holdings in First Interstate BancSystem were worth $4,053,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Raymond James & Associates grew its stake in shares of First Interstate BancSystem by 4.9% during the 3rd quarter. Raymond James & Associates now owns 18,532 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 871 shares during the period. Jennison Associates LLC grew its position in First Interstate BancSystem by 93.4% during the 3rd quarter. Jennison Associates LLC now owns 1,426,641 shares of the financial services provider’s stock worth $35,580,000 after acquiring an additional 688,906 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of First Interstate BancSystem by 37.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 12,153 shares of the financial services provider’s stock worth $303,000 after buying an additional 3,328 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in shares of First Interstate BancSystem in the 3rd quarter worth approximately $10,857,000. Finally, Bahl & Gaynor Inc. grew its position in shares of First Interstate BancSystem by 2.2% in the 3rd quarter. Bahl & Gaynor Inc. now owns 704,986 shares of the financial services provider’s stock worth $17,582,000 after buying an additional 15,092 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday. Keefe, Bruyette & Woods boosted their price target on First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday. Piper Sandler upped their price objective on First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company upped their price objective on First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Finally, TheStreet lowered First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and an average price target of $30.20.

Insider Transactions at First Interstate BancSystem

In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the completion of the transaction, the executive vice president now owns 20,599 shares in the company, valued at approximately $551,229.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of First Interstate BancSystem 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 completion of the transaction, the executive vice president now owns 9,047 shares in the company, valued at approximately $233,684.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total value of $77,604.00. Following the transaction, the executive vice president now owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The disclosure for this sale can be found here. Insiders sold 7,531 shares of company stock valued at $197,645 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

First Interstate BancSystem Stock Up 0.6 %

NASDAQ FIBK traded up $0.16 during midday trading on Monday, hitting $27.16. 359,286 shares of the company traded hands, compared to its average volume of 824,599. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76. The company has a market cap of $2.82 billion, a PE ratio of 10.93 and a beta of 0.87. The company’s 50-day simple moving average is $26.10 and its 200-day simple moving average is $26.71. First Interstate BancSystem, Inc. has a 52 week low of $20.81 and a 52 week high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.55% and a net margin of 18.04%. As a group, equities research analysts forecast that First Interstate BancSystem, Inc. will post 2.17 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

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 given a $0.47 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.92%. First Interstate BancSystem’s payout ratio is 74.90%.

About First Interstate BancSystem

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.