First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock Holdings Lessened by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV decreased its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,356 shares of the financial services provider’s stock after selling 2,461 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in First Interstate BancSystem were worth $434,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of FIBK. Northern Trust Corp increased its holdings in shares of First Interstate BancSystem by 2.2% in the fourth quarter. Northern Trust Corp now owns 856,674 shares of the financial services provider’s stock valued at $27,816,000 after buying an additional 18,366 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in First Interstate BancSystem by 10.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,439 shares of the financial services provider’s stock valued at $1,898,000 after acquiring an additional 5,309 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of First Interstate BancSystem by 39.6% in the 4th quarter. Hsbc Holdings PLC now owns 21,058 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 5,973 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of First Interstate BancSystem by 7.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,872 shares of the financial services provider’s stock worth $385,000 after buying an additional 807 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in First Interstate BancSystem by 3.3% during the fourth quarter. MetLife Investment Management LLC now owns 47,715 shares of the financial services provider’s stock worth $1,549,000 after purchasing an additional 1,504 shares during the period. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $28.21 on Wednesday. The firm has a market capitalization of $2.95 billion, a PE ratio of 12.88 and a beta of 0.76. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The company’s 50-day moving average is $27.21 and its 200-day moving average is $30.73. First Interstate BancSystem, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The firm had revenue of $42.00 million for the quarter, compared to the consensus estimate of $253.50 million. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 EPS. Equities analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.66%. The ex-dividend date of this dividend is Monday, May 12th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 89.10%.

Insider Buying and Selling

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on First Interstate BancSystem from $30.00 to $25.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 9th. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Saturday. DA Davidson reaffirmed a “buy” rating and set a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. Stephens cut their price target 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. Finally, Barclays decreased their target price on First Interstate BancSystem from $31.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.00.

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.