Harbor Capital Advisors Inc. Has $10.12 Million Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Harbor Capital Advisors Inc. raised its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 149.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 353,086 shares of the financial services provider's stock after purchasing an additional 211,584 shares during the quarter. Harbor Capital Advisors Inc. owned 0.34% of First Interstate BancSystem worth $10,116,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FIBK. FMR LLC raised its stake in First Interstate BancSystem by 35.5% during the fourth quarter. FMR LLC now owns 6,786,334 shares of the financial services provider's stock worth $220,352,000 after acquiring an additional 1,778,269 shares during the period. Wellington Management Group LLP grew its stake in shares of First Interstate BancSystem by 88.3% in 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. Victory Capital Management Inc. boosted its stake in shares of First Interstate BancSystem by 309.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider's stock worth $41,247,000 after acquiring an additional 960,372 shares in the last quarter. Norges Bank acquired a new stake in First Interstate BancSystem during the 4th quarter worth about $24,137,000. Finally, FJ Capital Management LLC acquired a new position in First Interstate BancSystem in the 4th quarter worth approximately $19,960,000. Institutional investors and hedge funds own 88.71% of the company's stock.

First Interstate BancSystem Price Performance

FIBK stock traded down $0.77 during trading on Friday, hitting $26.68. 670,665 shares of the stock traded hands, compared to its average volume of 694,885. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 12.18 and a beta of 0.79. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $36.77. The company has a 50 day simple moving average of $26.80 and a 200 day simple moving average of $29.91. 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 issued its quarterly earnings results 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). The firm had revenue of $42.00 million for the quarter, compared to analyst estimates of $253.50 million. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The company's revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.57 EPS. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were paid 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 7.05%. First Interstate BancSystem's payout ratio is presently 89.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Wells Fargo & Company cut their price objective on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a research report on Wednesday, April 9th. Finally, Barclays reduced their target price on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $35.00.

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.