Dimensional Fund Advisors LP Acquires 138,050 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Dimensional Fund Advisors LP lifted its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,045,741 shares of the financial services provider's stock after acquiring an additional 138,050 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.83% of First Interstate BancSystem worth $163,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in FIBK. Swiss National Bank grew its holdings in First Interstate BancSystem by 0.5% during the 4th quarter. Swiss National Bank now owns 185,046 shares of the financial services provider's stock worth $6,008,000 after acquiring an additional 1,000 shares during the period. Barclays PLC boosted its holdings in shares of First Interstate BancSystem by 18.6% during the 3rd quarter. Barclays PLC now owns 206,213 shares of the financial services provider's stock worth $6,326,000 after buying an additional 32,298 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of First Interstate BancSystem by 37,734.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider's stock worth $4,595,000 after buying an additional 141,128 shares during the period. Jennison Associates LLC increased its stake in shares of First Interstate BancSystem by 73.9% in the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider's stock valued at $50,020,000 after acquiring an additional 654,688 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new position in shares of First Interstate BancSystem during the 4th quarter valued at $1,366,000. 88.71% of the stock is currently owned by institutional investors.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the sale, the director now directly owns 1,414,886 shares in the company, valued at $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on FIBK shares. Barclays decreased their target price on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. DA Davidson restated a "buy" rating and set a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 30th. Wells Fargo & Company reduced their price objective on shares of First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a report on Wednesday, April 9th. StockNews.com upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Stephens lowered their price objective on First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $35.00.

First Interstate BancSystem Stock Performance

Shares of FIBK stock traded down $1.60 during trading on Wednesday, hitting $26.19. The company's stock had a trading volume of 2,812,363 shares, compared to its average volume of 647,501. First Interstate BancSystem, Inc. has a 52 week low of $22.95 and a 52 week high of $36.77. The company has a market cap of $2.74 billion, a PE ratio of 11.96 and a beta of 0.81. The business has a fifty day moving average of $27.73 and a 200-day moving average of $31.03. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The company had revenue of $42.00 million for the quarter, compared to analysts' expectations of $253.50 million. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. As a group, research analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be issued a $0.47 dividend. The ex-dividend date is Monday, May 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.18%. First Interstate BancSystem's dividend payout ratio (DPR) is presently 85.84%.

First Interstate BancSystem Company 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.