First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 856,674 shares of the financial services provider's stock after purchasing an additional 18,366 shares during the period. Northern Trust Corp owned approximately 0.82% of First Interstate BancSystem worth $27,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in FIBK. Evergreen Capital Management LLC lifted its stake in shares of First Interstate BancSystem by 1.9% during the 4th quarter. Evergreen Capital Management LLC now owns 24,580 shares of the financial services provider's stock worth $798,000 after acquiring an additional 468 shares during the last quarter. Covestor Ltd increased its stake in First Interstate BancSystem by 25.8% in the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock worth $81,000 after purchasing an additional 510 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of First Interstate BancSystem by 7.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,872 shares of the financial services provider's stock worth $385,000 after purchasing an additional 807 shares during the last quarter. Swiss National Bank boosted its stake in shares of First Interstate BancSystem by 0.5% during the fourth quarter. Swiss National Bank now owns 185,046 shares of the financial services provider's stock valued at $6,008,000 after purchasing an additional 1,000 shares during the period. Finally, KBC Group NV grew its holdings in shares of First Interstate BancSystem by 34.1% in the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider's stock worth $130,000 after purchasing an additional 1,022 shares during the last quarter. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Stock Performance

Shares of FIBK stock traded down $0.03 during trading hours on Friday, hitting $27.66. The company's stock had a trading volume of 122,010 shares, compared to its average volume of 662,891. The stock has a market cap of $2.89 billion, a PE ratio of 12.63 and a beta of 0.76. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77. The company has a 50 day moving average of $27.18 and a 200 day moving average of $30.69. 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 results on Tuesday, April 29th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The business had revenue of $42.00 million during the quarter, compared to analysts' expectations of $253.50 million. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. First Interstate BancSystem's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. On average, sell-side analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th will be paid 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 6.80%. First Interstate BancSystem's payout ratio is 89.10%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FIBK shares. Barclays decreased their price objective on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Piper Sandler decreased their price target on shares of First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. StockNews.com upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. 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. Finally, Wells Fargo & Company decreased their target price 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. 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 stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $35.00.

About First Interstate BancSystem

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.