First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Acquired by Mesirow Institutional Investment Management Inc.

Mesirow Institutional Investment Management Inc. grew its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 496,889 shares of the financial services provider's stock after buying an additional 59,615 shares during the period. First Interstate BancSystem accounts for about 1.2% of Mesirow Institutional Investment Management Inc.'s investment portfolio, making the stock its 22nd largest position. Mesirow Institutional Investment Management Inc. owned about 0.48% of First Interstate BancSystem worth $16,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FIBK. Meeder Asset Management Inc. bought a new stake in First Interstate BancSystem in the fourth quarter worth $69,000. Covestor Ltd boosted its stake in First Interstate BancSystem by 25.8% during the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock worth $81,000 after buying an additional 510 shares during the period. Sterling Capital Management LLC lifted 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 acquiring an additional 2,231 shares during the last quarter. KBC Group NV boosted its position in shares of First Interstate BancSystem by 34.1% during the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider's stock valued at $130,000 after buying an additional 1,022 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in First Interstate BancSystem in the fourth quarter worth $241,000. Institutional investors own 88.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FIBK shares. DA Davidson reaffirmed a "buy" rating and set a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Stephens dropped their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company dropped their target price on 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 raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Barclays reduced their price target on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned 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 Stock Performance

Shares of FIBK stock traded down $0.36 during mid-day trading on Friday, hitting $27.95. 175,480 shares of the stock were exchanged, compared to its average volume of 636,747. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 12.74 and a beta of 0.81. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77. The stock's fifty day simple moving average is $28.11 and its two-hundred day simple moving average is $31.10.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. On average, analysts forecast 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 was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem's payout ratio is currently 85.84%.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm's stock in a transaction 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 completion of the sale, the director now owns 1,414,886 shares of the company's stock, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is owned by insiders.

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.