First Interstate BancSystem, Inc. (NASDAQ:FIBK) Position Raised by Empower Advisory Group LLC

Empower Advisory Group LLC raised its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 4.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 466,687 shares of the financial services provider's stock after buying an additional 21,191 shares during the quarter. Empower Advisory Group LLC owned about 0.45% of First Interstate BancSystem worth $14,318,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of FIBK. Dimensional Fund Advisors LP grew its stake in shares of First Interstate BancSystem by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider's stock worth $127,204,000 after purchasing an additional 367,212 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of First Interstate BancSystem by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider's stock worth $56,974,000 after purchasing an additional 32,348 shares during the period. Bank of New York Mellon Corp grew its stake in First Interstate BancSystem by 1.3% in the 2nd 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 acquiring an additional 11,493 shares during the last quarter. Leeward Investments LLC MA grew its stake in First Interstate BancSystem by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 657,946 shares of the financial services provider's stock valued at $18,271,000 after acquiring an additional 34,817 shares during the last quarter. Finally, Sei Investments Co. grew its stake in First Interstate BancSystem by 5.8% in the 1st quarter. Sei Investments Co. now owns 448,158 shares of the financial services provider's stock valued at $12,194,000 after acquiring an additional 24,552 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Stock Down 0.7 %

Shares of FIBK stock traded down $0.23 during mid-day trading on Thursday, reaching $33.28. 329,040 shares of the company were exchanged, compared to its average volume of 676,916. First Interstate BancSystem, Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $34.53. 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 capitalization of $3.48 billion, a P/E ratio of 14.77 and a beta of 0.81. The business's 50 day simple moving average is $30.94 and its 200 day simple moving average is $29.22.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share 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 quarter last year, the company posted $0.70 EPS. Research analysts predict that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend is Monday, November 4th. First Interstate BancSystem's dividend payout ratio (DPR) is presently 82.46%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FIBK shares. DA Davidson increased their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a "neutral" rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods upped their target price on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a "market perform" rating in a report on Monday, July 29th. Stephens restated an "overweight" rating and issued a $36.00 target price on shares of First Interstate BancSystem in a report on Thursday, October 10th. Piper Sandler reduced their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Finally, Wells Fargo & Company lowered shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $30.00 to $28.00 in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, First Interstate BancSystem currently has a consensus rating of "Hold" and an average target price of $32.50.

Insider Buying and Selling

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 20,220 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $32.78, for a total value of $662,811.60. Following the sale, the insider now directly owns 635,069 shares in the company, valued at approximately $20,817,561.82. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan R. Scott sold 6,500 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the sale, the director now owns 958,710 shares in the company, valued at $32,768,707.80. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,320 shares of company stock worth $1,647,096 over the last ninety days. 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.