First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Purchased by Brown Advisory Inc.

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 filing with the Securities and Exchange Commission (SEC). The fund owned 1,017,252 shares of the financial services provider's stock after buying an additional 11,209 shares during the period. Brown Advisory Inc. owned 0.97% of First Interstate BancSystem worth $29,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Davidson Investment Advisors boosted its holdings in shares of First Interstate BancSystem by 2.0% in the 1st quarter. Davidson Investment Advisors now owns 402,384 shares of the financial services provider's stock valued at $11,528,000 after buying an additional 7,728 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in First Interstate BancSystem by 13.1% in the first quarter. Envestnet Asset Management Inc. now owns 49,385 shares of the financial services provider's stock valued at $1,415,000 after acquiring an additional 5,703 shares during the last quarter. D.A. Davidson & CO. boosted its stake in First Interstate BancSystem by 12.6% in the first quarter. D.A. Davidson & CO. now owns 30,118 shares of the financial services provider's stock valued at $863,000 after acquiring an additional 3,367 shares in the last quarter. JNBA Financial Advisors purchased a new position in shares of First Interstate BancSystem during the first quarter worth about $29,000. Finally, Altus Wealth Group LLC increased its position in shares of First Interstate BancSystem by 11.1% during the first quarter. Altus Wealth Group LLC now owns 26,487 shares of the financial services provider's stock worth $759,000 after purchasing an additional 2,648 shares in the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Stock Performance

Shares of NASDAQ:FIBK traded down $0.34 during trading on Friday, reaching $31.04. The company had a trading volume of 594,195 shares, compared to its average volume of 724,288. First Interstate BancSystem, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $36.77. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.77 and a quick ratio of 0.77. The stock's fifty day moving average price is $27.92 and its 200 day moving average price is $29.17. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 14.71 and a beta of 0.79.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). First Interstate BancSystem had a net margin of 14.93% and a return on equity of 6.57%. The firm had revenue of $42.00 million during the quarter, compared to analyst estimates of $253.50 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The business's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts predict 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 given a $0.47 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.88 dividend on an annualized basis and a yield of 6.06%. First Interstate BancSystem's payout ratio is currently 89.10%.

Wall Street Analysts Forecast Growth

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