Wellington Management Group LLP Has $78.76 Million Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Wellington Management Group LLP increased its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 88.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,425,615 shares of the financial services provider's stock after buying an additional 1,137,401 shares during the period. Wellington Management Group LLP owned 2.32% of First Interstate BancSystem worth $78,760,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Swiss National Bank grew its holdings in First Interstate BancSystem by 0.5% during the 4th quarter. Swiss National Bank now owns 185,046 shares of the financial services provider's stock worth $6,008,000 after acquiring an additional 1,000 shares during the last quarter. KBC Group NV boosted its position in First Interstate BancSystem by 34.1% during the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider's stock worth $130,000 after purchasing an additional 1,022 shares during the period. Point72 DIFC Ltd bought a new stake in shares of First Interstate BancSystem in the third quarter valued at about $34,000. Rhumbline Advisers raised its stake in First Interstate BancSystem by 1.4% during the fourth quarter. Rhumbline Advisers now owns 129,964 shares of the financial services provider's stock worth $4,220,000 after acquiring an additional 1,785 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP increased its stake in shares of First Interstate BancSystem by 12.4% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 18,067 shares of the financial services provider's stock valued at $587,000 after buying an additional 1,995 shares during the period. 88.71% of the stock is owned by institutional investors.

First Interstate BancSystem Price Performance

Shares of FIBK stock traded down $1.50 during trading hours on Thursday, reaching $24.51. The company had a trading volume of 126,333 shares, compared to its average volume of 628,055. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 11.28 and a beta of 0.81. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77. 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 stock has a fifty day moving average of $29.55 and a 200-day moving average of $31.40.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating 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, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.67%. First Interstate BancSystem's payout ratio is 85.84%.

Wall Street Analysts Forecast Growth

FIBK has been the topic of a number of research analyst reports. Barclays cut their price target on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday. Piper Sandler dropped their price target on First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a report on Wednesday. Stephens decreased their target price on First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, UBS Group assumed coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $35.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, First Interstate BancSystem presently has a consensus rating of "Hold" and an average price target of $35.00.

Insider Buying and Selling

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.90% of the company's stock.

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.