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

First Interstate Bank grew its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,053,342 shares of the financial services provider's stock after purchasing an additional 624,268 shares during the quarter. First Interstate BancSystem makes up about 8.6% of First Interstate Bank's portfolio, making the stock its 2nd biggest holding. First Interstate Bank owned approximately 4.83% of First Interstate BancSystem worth $144,778,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FIBK. FMR LLC boosted its stake in First Interstate BancSystem by 35.5% during the 4th quarter. FMR LLC now owns 6,786,334 shares of the financial services provider's stock worth $220,352,000 after purchasing an additional 1,778,269 shares during the last quarter. Wellington Management Group LLP boosted its stake in First Interstate BancSystem by 88.3% during the 4th quarter. Wellington Management Group LLP now owns 2,425,615 shares of the financial services provider's stock worth $78,760,000 after purchasing an additional 1,137,401 shares during the last quarter. Norges Bank acquired a new stake in First Interstate BancSystem during the 4th quarter worth $24,137,000. FJ Capital Management LLC acquired a new position in shares of First Interstate BancSystem during the 4th quarter valued at about $19,960,000. Finally, Vanguard Group Inc. boosted its position in shares of First Interstate BancSystem by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider's stock valued at $299,691,000 after acquiring an additional 587,975 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.

First Interstate BancSystem Stock Up 0.6%

Shares of FIBK stock traded up $0.20 during trading hours on Thursday, reaching $31.38. 753,605 shares of the stock were exchanged, compared to its average volume of 725,604. The business's fifty day moving average is $27.75 and its two-hundred day moving average is $29.19. 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 firm has a market capitalization of $3.29 billion, a P/E ratio of 14.87 and a beta of 0.79. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $42.00 million during the quarter, compared to analyst estimates of $253.50 million. First Interstate BancSystem had a net margin of 14.93% and a return on equity of 6.57%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. As a group, research analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's dividend payout ratio (DPR) is 89.10%.

Wall Street Analysts Forecast Growth

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