First Interstate BancSystem, Inc. $FIBK Holdings Boosted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBKFree Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,630,789 shares of the financial services provider’s stock after purchasing an additional 231,405 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.57% of First Interstate BancSystem worth $188,066,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northern Capital Management Inc. boosted its holdings in shares of First Interstate BancSystem by 0.5% during 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 acquiring an additional 275 shares during the period. HighTower Advisors LLC boosted its position in shares of First Interstate BancSystem by 2.7% during the fourth quarter. HighTower Advisors LLC now owns 14,177 shares of the financial services provider’s stock worth $491,000 after buying an additional 375 shares during the period. Alliancebernstein L.P. grew its holdings in First Interstate BancSystem by 0.4% in the 3rd quarter. Alliancebernstein L.P. now owns 108,600 shares of the financial services provider’s stock worth $3,461,000 after buying an additional 397 shares in the last quarter. First Horizon Corp increased its position in First Interstate BancSystem by 56.0% in the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 455 shares during the period. Finally, GAMMA Investing LLC raised its stake in First Interstate BancSystem by 49.6% during the 4th quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 516 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 0.1%

Shares of FIBK stock opened at $38.12 on Friday. First Interstate BancSystem, Inc. has a 12 month low of $27.60 and a 12 month high of $40.60. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The firm has a market cap of $3.70 billion, a PE ratio of 11.73 and a beta of 0.76. The stock has a 50 day moving average of $37.17 and a 200-day moving average of $36.02.

First Interstate BancSystem (NASDAQ:FIBKGet Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.19. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.49%. The firm had revenue of $99.10 million for the quarter, compared to the consensus estimate of $249.32 million. On average, equities analysts predict that First Interstate BancSystem, Inc. will post 2.66 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Tuesday, August 4th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.9%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 61.24%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 12,892 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $35.58, for a total transaction of $458,697.36. Following the sale, the insider directly owned 866,628 shares in the company, valued at approximately $30,834,624.24. This trade represents a 1.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Julie A. Scott sold 15,000 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.97, for a total transaction of $539,550.00. Following the transaction, the insider owned 488,359 shares of the company’s stock, valued at $17,566,273.23. The trade was a 2.98% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 32,392 shares of company stock worth $1,161,552. Company insiders own 8.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FIBK shares. Weiss Ratings raised shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Piper Sandler dropped their price target on shares of First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating on the stock 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 note on Monday, June 22nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $37.00 price objective (down from $38.00) on shares of First Interstate BancSystem in a report on Friday, May 1st. Finally, UBS Group raised their price objective on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and an average price target of $37.33.

Get Our Latest Analysis on FIBK

First Interstate BancSystem News Summary

Here are the key news stories impacting First Interstate BancSystem this week:

First Interstate BancSystem Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for First Interstate BancSystem (NASDAQ:FIBK)

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