Hotchkis & Wiley Capital Management LLC Has $6.49 Million Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Hotchkis & Wiley Capital Management LLC raised its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 100.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 211,390 shares of the financial services provider's stock after purchasing an additional 105,670 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.20% of First Interstate BancSystem worth $6,485,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FIBK. Dimensional Fund Advisors LP lifted its stake in shares of First Interstate BancSystem by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider's stock valued at $127,204,000 after purchasing an additional 367,212 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of First Interstate BancSystem by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider's stock worth $56,974,000 after acquiring an additional 32,348 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of First Interstate BancSystem by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider's stock valued at $32,945,000 after acquiring an additional 52,919 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of First Interstate BancSystem by 1.3% during 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 in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of First Interstate BancSystem by 57.3% during the 3rd quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider's stock valued at $27,176,000 after acquiring an additional 322,578 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company's stock.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the transaction, the director now owns 958,710 shares in the company, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Julie A. Scott sold 20,220 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 635,069 shares of the company's stock, valued at approximately $20,817,561.82. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,837 shares of company stock valued at $1,839,583 in the last quarter. Corporate insiders own 6.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FIBK shares. Stephens reiterated an "overweight" rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price objective on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the stock an "underweight" rating in a report on Tuesday. StockNews.com upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Thursday, November 28th. Piper Sandler reduced their price target on First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Finally, Barclays lifted their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an "underweight" rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $35.17.

First Interstate BancSystem Stock Performance

Shares of FIBK stock traded up $0.18 on Friday, hitting $34.46. 437,784 shares of the stock traded hands, compared to its average volume of 671,591. The company's fifty day moving average is $32.27 and its 200 day moving average is $29.96. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77. The company has a market capitalization of $3.60 billion, a PE ratio of 15.06 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly 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 quarter in the prior year, the company earned $0.70 earnings per share. On average, equities research analysts predict that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem's payout ratio is 82.46%.

First Interstate BancSystem Company 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.