Harbor Capital Advisors Inc. Has $4.60 Million Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Harbor Capital Advisors Inc. lifted its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 37,734.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,502 shares of the financial services provider's stock after buying an additional 141,128 shares during the period. Harbor Capital Advisors Inc. owned about 0.14% of First Interstate BancSystem worth $4,595,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in First Interstate BancSystem by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider's stock worth $61,152,000 after acquiring an additional 59,367 shares during the period. Barclays PLC boosted its holdings in shares of First Interstate BancSystem by 18.6% during the third quarter. Barclays PLC now owns 206,213 shares of the financial services provider's stock worth $6,326,000 after purchasing an additional 32,298 shares during the period. Jane Street Group LLC grew its position in First Interstate BancSystem by 13.9% during the third quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider's stock valued at $5,770,000 after purchasing an additional 22,899 shares in the last quarter. Wellington Management Group LLP increased its stake in First Interstate BancSystem by 6.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider's stock valued at $39,522,000 after buying an additional 78,596 shares during the period. Finally, Systematic Financial Management LP purchased a new stake in First Interstate BancSystem in the 3rd quarter worth approximately $840,000. 88.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FIBK. Barclays boosted their price target on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an "underweight" rating in a report on Thursday, December 5th. Piper Sandler lowered their target price on First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Stephens reaffirmed an "overweight" rating and set a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. UBS Group started coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $35.00 price target for the company. Finally, StockNews.com lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research report on Tuesday, December 24th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, First Interstate BancSystem has a consensus rating of "Hold" and a consensus target price of $35.00.

Insider Transactions at First Interstate BancSystem

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

First Interstate BancSystem Stock Performance

First Interstate BancSystem stock traded down $1.31 during trading hours on Friday, reaching $30.53. 815,883 shares of the company were exchanged, compared to its average volume of 680,597. First Interstate BancSystem, Inc. has a 12 month low of $24.16 and a 12 month high of $36.77. 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 50-day moving average of $33.27 and a 200 day moving average of $31.15. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 13.39 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the company earned $0.70 EPS. As a group, research analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid 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 dividend yield of 6.16%. First Interstate BancSystem's payout ratio is presently 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.