Dimensional Fund Advisors LP Acquires 138,050 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Dimensional Fund Advisors LP lifted its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,045,741 shares of the financial services provider's stock after acquiring an additional 138,050 shares during the period. Dimensional Fund Advisors LP owned approximately 4.83% of First Interstate BancSystem worth $163,836,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Barclays PLC boosted its position in First Interstate BancSystem by 18.6% during the 3rd quarter. Barclays PLC now owns 206,213 shares of the financial services provider's stock worth $6,326,000 after acquiring an additional 32,298 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in First Interstate BancSystem by 37,734.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider's stock valued at $4,595,000 after purchasing an additional 141,128 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of First Interstate BancSystem by 38.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 14,065 shares of the financial services provider's stock worth $457,000 after purchasing an additional 3,929 shares during the last quarter. KBC Group NV raised its stake in shares of First Interstate BancSystem by 34.1% during the 4th 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 in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of First Interstate BancSystem by 73.9% in the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider's stock valued at $50,020,000 after buying an additional 654,688 shares during the last quarter. Institutional investors own 88.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. StockNews.com upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. DA Davidson restated a "buy" rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Stephens reduced their price objective on shares of 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. Finally, Wells Fargo & Company dropped 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. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.00.

Insider Transactions at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the sale, the director now owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.20% of the stock is currently owned by insiders.

First Interstate BancSystem Stock Performance

Shares of FIBK traded up $0.08 during midday trading on Monday, reaching $28.08. 698,217 shares of the stock were exchanged, compared to its average volume of 635,974. The stock's 50 day simple moving average is $28.01 and its 200 day simple moving average is $31.11. The company has a market cap of $2.94 billion, a P/E ratio of 12.82 and a beta of 0.81. First Interstate BancSystem, Inc. has a twelve month low of $22.95 and a twelve month high of $36.77. 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 posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (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, sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a $0.47 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 6.70%. First Interstate BancSystem's dividend payout ratio is presently 85.84%.

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.