Brown Advisory Inc. Raises Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Brown Advisory Inc. grew its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 1.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,017,252 shares of the financial services provider's stock after purchasing an additional 11,209 shares during the quarter. Brown Advisory Inc. owned about 0.97% of First Interstate BancSystem worth $29,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FIBK. Wood Tarver Financial Group LLC purchased a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $26,000. JNBA Financial Advisors purchased a new stake in First Interstate BancSystem in the first quarter valued at approximately $29,000. Meeder Asset Management Inc. purchased a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $69,000. Covestor Ltd lifted its holdings in shares of First Interstate BancSystem by 25.8% in the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock worth $81,000 after acquiring an additional 510 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of First Interstate BancSystem by 826.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider's stock worth $81,000 after acquiring an additional 2,231 shares during the last quarter. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Price Performance

FIBK stock traded down $0.19 during midday trading on Friday, hitting $31.19. The company's stock had a trading volume of 172,555 shares, compared to its average volume of 723,439. First Interstate BancSystem, Inc. has a 12 month low of $22.95 and a 12 month high of $36.77. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 14.76 and a beta of 0.79. The company has a 50 day moving average of $27.75 and a two-hundred day moving average of $29.19.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). First Interstate BancSystem had a return on equity of 6.57% and a net margin of 14.93%. The business had revenue of $42.00 million during the quarter, compared to the consensus estimate of $253.50 million. During the same quarter in the previous year, the company earned $0.57 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were issued a $0.47 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.88 annualized dividend and a dividend yield of 6.03%. First Interstate BancSystem's payout ratio is currently 89.10%.

Wall Street Analysts Forecast Growth

FIBK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 price objective for the company in a report on Monday, June 23rd. Barclays raised First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $28.00 to $32.00 in a research report on Tuesday. Wall Street Zen raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. Finally, Wells Fargo & Company lifted their price target on First Interstate BancSystem from $25.00 to $28.00 and gave the stock an "underweight" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $35.43.

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.