Fisher Asset Management LLC Acquires 46,747 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Fisher Asset Management LLC lifted its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 17.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 319,000 shares of the financial services provider’s stock after acquiring an additional 46,747 shares during the period. Fisher Asset Management LLC owned 0.31% of First Interstate BancSystem worth $9,787,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FIBK. Dimensional Fund Advisors LP increased its holdings in First Interstate BancSystem by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock valued at $127,204,000 after acquiring an additional 367,212 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of First Interstate BancSystem by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider’s stock valued at $56,974,000 after purchasing an additional 32,348 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of First Interstate BancSystem by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider’s stock worth $32,945,000 after buying an additional 52,919 shares during the last quarter. Bank of New York Mellon Corp raised its position in First Interstate BancSystem by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 887,559 shares of the financial services provider’s stock valued at $24,648,000 after purchasing an additional 11,493 shares during the period. Finally, Jennison Associates LLC raised its holdings in First Interstate BancSystem by 57.3% during the 3rd quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider’s stock valued at $27,176,000 after buying an additional 322,578 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Insider Activity at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 20,220 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the transaction, the insider now directly owns 635,069 shares in the company, valued at $20,817,561.82. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan R. Scott sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the transaction, the director now owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,837 shares of company stock worth $1,839,583. 6.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FIBK has been the subject of a number of research analyst reports. Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Barclays downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $32.00 to $30.00 in a research report on Thursday, October 31st. Piper Sandler decreased their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Stephens reissued an “overweight” rating and issued a $36.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.83.

First Interstate BancSystem Stock Down 0.2 %

First Interstate BancSystem stock opened at $35.35 on Thursday. The business’s 50-day simple moving average is $31.79 and its two-hundred day simple moving average is $29.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $3.70 billion, a PE ratio of 15.50 and a beta of 0.81. First Interstate BancSystem, Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter last year, the firm earned $0.70 EPS. Equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.32%. First Interstate BancSystem’s payout ratio is 82.46%.

First Interstate BancSystem 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.