Price T Rowe Associates Inc. MD Increases Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Price T Rowe Associates Inc. MD increased its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,439 shares of the financial services provider’s stock after acquiring an additional 5,309 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in First Interstate BancSystem were worth $1,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of First Interstate BancSystem in the 4th quarter worth approximately $69,000. Covestor Ltd lifted its holdings in First Interstate BancSystem by 25.8% during the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock worth $81,000 after buying an additional 510 shares during the period. Sterling Capital Management LLC boosted its position in First Interstate BancSystem by 826.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 2,231 shares in the last quarter. KBC Group NV increased its holdings in shares of First Interstate BancSystem by 34.1% in the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,022 shares during the period. Finally, Cibc World Markets Corp bought a new position in shares of First Interstate BancSystem in the 4th quarter worth $241,000. 88.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FIBK shares. Wells Fargo & Company dropped their price objective on First Interstate BancSystem from $30.00 to $25.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 9th. Stephens cut their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. Barclays cut their price target on shares of First Interstate BancSystem from $31.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. Finally, DA Davidson reiterated a “buy” rating and set a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.00.

First Interstate BancSystem Trading Down 0.8 %

NASDAQ:FIBK opened at $26.35 on Thursday. The company has a market capitalization of $2.75 billion, a P/E ratio of 12.03 and a beta of 0.76. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 12 month low of $22.95 and a 12 month high of $36.77. The firm has a fifty day simple moving average of $27.34 and a 200-day simple moving average of $30.85.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $42.00 million for the quarter, compared to analysts’ expectations of $253.50 million. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. On average, equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 7.14%. The ex-dividend date is Monday, May 12th. First Interstate BancSystem’s payout ratio is 89.10%.

Insider Activity

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’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 transaction, the director now directly owns 1,414,886 shares in the company, valued at $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.20% 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.