First Interstate BancSystem, Inc. $FIBK Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,495,403 shares of the financial services provider’s stock after acquiring an additional 78,835 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.24% of First Interstate BancSystem worth $175,140,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. purchased a new position in First Interstate BancSystem during the 3rd quarter worth approximately $895,000. Teachers Retirement System of The State of Kentucky acquired a new position in First Interstate BancSystem during the third quarter valued at $2,115,000. Norges Bank acquired a new stake in First Interstate BancSystem during the 2nd quarter worth about $29,082,000. HoldCo Asset Management LP purchased a new position in First Interstate BancSystem during the 2nd quarter valued at about $102,890,000. Finally, Vanguard Group Inc. lifted its position in shares of First Interstate BancSystem by 0.7% in the third quarter. Vanguard Group Inc. now owns 8,833,965 shares of the financial services provider’s stock worth $281,538,000 after purchasing an additional 64,371 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 3,173 shares of First Interstate BancSystem stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $36.20, for a total transaction of $114,862.60. Following the sale, the insider directly owned 937,851 shares of the company’s stock, valued at approximately $33,950,206.20. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FIBK has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Weiss Ratings raised First Interstate BancSystem from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 3rd. UBS Group reissued a “neutral” rating and issued a $38.00 price target on shares of First Interstate BancSystem in a research note on Wednesday, February 4th. Barclays cut their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, January 30th. Finally, Piper Sandler increased their price target on shares of First Interstate BancSystem from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.17.

First Interstate BancSystem Stock Down 0.5%

Shares of FIBK stock opened at $34.02 on Tuesday. First Interstate BancSystem, Inc. has a 12 month low of $22.95 and a 12 month high of $39.26. The stock has a 50 day moving average of $36.61 and a 200-day moving average of $34.04. The firm has a market cap of $3.50 billion, a PE ratio of 11.53 and a beta of 0.77. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.44. The firm had revenue of $205.10 million during the quarter, compared to the consensus estimate of $256.89 million. First Interstate BancSystem had a net margin of 21.40% and a return on equity of 8.83%. The business’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. On average, equities analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Tuesday, February 10th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Tuesday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 63.73%.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.