First Interstate BancSystem, Inc. (NASDAQ:FIBK) Holdings Raised by Great Lakes Advisors LLC

Great Lakes Advisors LLC grew its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 114.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,827 shares of the financial services provider's stock after acquiring an additional 93,128 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.17% of First Interstate BancSystem worth $5,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. increased its stake in First Interstate BancSystem by 309.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider's stock valued at $41,247,000 after purchasing an additional 960,372 shares during the last quarter. 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 period. Raymond James Financial Inc. bought a new stake in shares of First Interstate BancSystem during the 4th quarter valued at about $10,451,000. Harbor Capital Advisors Inc. raised its stake in First Interstate BancSystem by 37,734.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider's stock worth $4,595,000 after acquiring an additional 141,128 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in First Interstate BancSystem by 100.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 211,390 shares of the financial services provider's stock worth $6,485,000 after acquiring an additional 105,670 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm's 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 completion of the sale, the director now directly owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on FIBK shares. StockNews.com raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods increased their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Piper Sandler cut their target price on First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Barclays upped their price target on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an "underweight" rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company lifted their price objective on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an "underweight" rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $36.14.

First Interstate BancSystem Price Performance

Shares of FIBK stock traded up $0.29 during midday trading on Monday, reaching $29.14. 729,332 shares of the company were exchanged, compared to its average volume of 606,341. The company's 50 day moving average price is $31.47 and its two-hundred day moving average price is $31.82. 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 $3.05 billion, a P/E ratio of 13.31 and a beta of 0.84. First Interstate BancSystem, Inc. has a 12 month low of $24.16 and a 12 month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 6.45%. First Interstate BancSystem's dividend payout ratio is currently 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.