Charles Schwab Investment Management Inc. Has $32.95 Million Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Charles Schwab Investment Management Inc. grew its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,073,814 shares of the financial services provider's stock after buying an additional 52,919 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.03% of First Interstate BancSystem worth $32,945,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of FIBK. Intech Investment Management LLC purchased a new position in First Interstate BancSystem during the 3rd quarter valued at about $528,000. Jennison Associates LLC lifted its position in First Interstate BancSystem by 57.3% during the third 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 in the last quarter. Wrapmanager Inc. lifted its position in First Interstate BancSystem by 5.0% during the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider's stock valued at $275,000 after buying an additional 429 shares in the last quarter. LMR Partners LLP acquired a new position in First Interstate BancSystem during the third quarter valued at approximately $579,000. Finally, Quest Partners LLC lifted its position in First Interstate BancSystem by 1,115.4% during the third quarter. Quest Partners LLC now owns 82,998 shares of the financial services provider's stock valued at $2,546,000 after buying an additional 76,169 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. StockNews.com raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Thursday, November 28th. Wells Fargo & Company boosted their target price on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the stock an "underweight" rating in a research report on Tuesday. DA Davidson raised shares of First Interstate BancSystem from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $32.00 to $42.00 in a research report on Tuesday, November 26th. Barclays cut shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $32.00 to $30.00 in a research report on Thursday, October 31st. Finally, Piper Sandler dropped their price target on shares of First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $35.00.

Insider Buying and Selling

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the sale, the insider now owns 75,387 shares of the company's stock, valued at $2,600,851.50. This represents a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Julie A. Scott sold 22,050 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the sale, the insider now directly owns 613,019 shares of the company's stock, valued at $20,720,042.20. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,837 shares of company stock worth $1,839,583. Insiders own 6.90% of the company's stock.

First Interstate BancSystem Stock Up 0.6 %

Shares of FIBK traded up $0.19 during trading hours on Wednesday, reaching $34.50. The company's stock had a trading volume of 585,982 shares, compared to its average volume of 672,814. The company has a 50 day moving average of $32.09 and a two-hundred day moving average of $29.90. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 15.04 and a beta of 0.84. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same period last year, the company posted $0.70 earnings per share. As a group, research analysts predict that First Interstate BancSystem, Inc. will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued 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 yield of 5.45%. First Interstate BancSystem's dividend payout ratio is currently 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.