Marshall Wace LLP Makes New Investment in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Marshall Wace LLP bought a new stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 31,670 shares of the financial services provider's stock, valued at approximately $1,028,000.

Other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of First Interstate BancSystem by 35.5% in the 4th quarter. FMR LLC now owns 6,786,334 shares of the financial services provider's stock valued at $220,352,000 after buying an additional 1,778,269 shares in the last quarter. Wellington Management Group LLP lifted its position in First Interstate BancSystem by 88.3% during the fourth quarter. Wellington Management Group LLP now owns 2,425,615 shares of the financial services provider's stock valued at $78,760,000 after acquiring an additional 1,137,401 shares during the last quarter. Victory Capital Management Inc. boosted its stake in First Interstate BancSystem by 309.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider's stock valued at $41,247,000 after acquiring an additional 960,372 shares in the last quarter. Norges Bank purchased a new position in First Interstate BancSystem in the fourth quarter worth $24,137,000. Finally, Jennison Associates LLC increased its position in shares of First Interstate BancSystem by 73.9% during the fourth quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider's stock worth $50,020,000 after purchasing an additional 654,688 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

Insider Activity at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the transaction, the director now directly owns 1,414,886 shares of the company's stock, valued at $46,068,688.16. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.20% of the stock is owned by company insiders.

First Interstate BancSystem Stock Performance

NASDAQ FIBK traded down $0.11 on Tuesday, hitting $26.61. 32,566 shares of the company's stock traded hands, compared to its average volume of 754,223. The firm's 50-day moving average price is $27.51 and its two-hundred day moving average price is $30.91. The firm has a market capitalization of $2.78 billion, a PE ratio of 12.16 and a beta of 0.76. 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, Inc. has a 1-year low of $22.95 and a 1-year high of $36.77.

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. As a group, analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 7.06%. The ex-dividend date is Monday, May 12th. First Interstate BancSystem's dividend payout ratio (DPR) is 89.10%.

Analyst Ratings Changes

FIBK has been the subject of a number of recent analyst reports. Stephens lowered their price objective on First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Wells Fargo & Company dropped their price target on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 9th. Barclays cut their price objective on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. DA Davidson reiterated a "buy" rating and issued a $42.00 target price on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.