31,670 Shares in First Interstate BancSystem, Inc. (NASDAQ:FIBK) Purchased by Marshall Wace LLP

Marshall Wace LLP acquired a new stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 31,670 shares of the financial services provider's stock, valued at approximately $1,028,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in shares of First Interstate BancSystem during the fourth quarter valued at approximately $69,000. Covestor Ltd boosted its stake in First Interstate BancSystem by 25.8% during the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after purchasing an additional 510 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of First Interstate BancSystem by 826.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider's stock worth $81,000 after purchasing an additional 2,231 shares in the last quarter. KBC Group NV raised its stake 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. Finally, Cibc World Markets Corp bought a new position in shares of First Interstate BancSystem during the fourth quarter valued at $241,000. 88.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the transaction, the director now directly owns 1,414,886 shares of the company's stock, valued at approximately $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 accessible through this link. Insiders own 8.20% of the company's stock.

First Interstate BancSystem Stock Performance

First Interstate BancSystem stock traded up $0.40 during trading on Friday, reaching $27.05. The company had a trading volume of 1,126,769 shares, compared to its average volume of 650,648. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 12.35 and a beta of 0.81. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm's 50-day simple moving average is $27.58 and its 200 day simple moving average is $30.96. First Interstate BancSystem, Inc. has a 52 week low of $22.95 and a 52 week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The company had revenue of $42.00 million for 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%. The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. Sell-side analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th will be given 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 6.95%. First Interstate BancSystem's payout ratio is currently 89.10%.

Wall Street Analyst Weigh In

FIBK has been the subject of a number of recent analyst reports. Stephens decreased their target price 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 lowered their price objective on shares of First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 9th. StockNews.com downgraded shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research report on Friday. Piper Sandler lowered their price target on First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, DA Davidson reaffirmed a "buy" rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.