Fisher Asset Management LLC Has $9.79 Million Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Fisher Asset Management LLC increased its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 17.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 319,000 shares of the financial services provider's stock after purchasing 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 hedge funds have also made changes to their positions in FIBK. CWM LLC raised its stake in First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider's stock valued at $87,000 after acquiring an additional 430 shares in the last quarter. Innealta Capital LLC bought a new stake in First Interstate BancSystem during the 2nd quarter valued at $106,000. nVerses Capital LLC raised its stake in First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider's stock valued at $114,000 after acquiring an additional 3,300 shares in the last quarter. Telos Capital Management Inc. bought a new stake in First Interstate BancSystem during the 3rd quarter valued at $201,000. Finally, Washington Trust Bank bought a new stake in First Interstate BancSystem during the 2nd quarter valued at $204,000. Institutional investors own 88.71% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Thursday. Stephens reaffirmed an "overweight" rating and set a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. DA Davidson upgraded First Interstate BancSystem from a "neutral" rating to a "buy" rating and lifted their price target for the company from $32.00 to $42.00 in a research report on Tuesday. Wells Fargo & Company cut First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $30.00 to $28.00 in a research report on Tuesday, October 1st. Finally, Barclays cut First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $32.00 to $30.00 in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, First Interstate BancSystem presently has a consensus rating of "Hold" and a consensus price target of $33.83.

Insider Buying and Selling

In other news, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction on Friday, November 8th. The stock was sold at an average price of $32.78, for a total transaction of $662,811.60. Following the transaction, the insider now owns 635,069 shares in the company, valued at approximately $20,817,561.82. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem 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 transaction, the director now owns 958,710 shares in the company, valued at $32,768,707.80. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,837 shares of company stock worth $1,839,583 in the last three months. 6.90% of the stock is currently owned by insiders.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK traded down $0.06 during mid-day trading on Thursday, reaching $35.35. The company had a trading volume of 832,882 shares, compared to its average volume of 676,518. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3.70 billion, a PE ratio of 15.50 and a beta of 0.81. The company has a 50-day moving average price of $31.79 and a two-hundred day moving average price of $29.68. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (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 firm earned $0.70 earnings per share. On average, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

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

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.