Rhumbline Advisers Has $4.22 Million Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Rhumbline Advisers raised its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 129,964 shares of the financial services provider’s stock after acquiring an additional 1,785 shares during the quarter. Rhumbline Advisers owned about 0.12% of First Interstate BancSystem worth $4,220,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in First Interstate BancSystem by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock valued at $61,152,000 after buying an additional 59,367 shares during the period. Jennison Associates LLC increased its stake in shares of First Interstate BancSystem by 73.9% in the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock valued at $50,020,000 after acquiring an additional 654,688 shares during the last quarter. Wellington Management Group LLP raised its position in shares of 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 acquiring an additional 78,596 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in First Interstate BancSystem by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider’s stock worth $32,945,000 after acquiring an additional 52,919 shares during the last quarter. Finally, Empower Advisory Group LLC grew its holdings in First Interstate BancSystem by 4.8% during the third quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock valued at $14,318,000 after purchasing an additional 21,191 shares during the period. 88.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FIBK has been the topic of several research analyst reports. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. UBS Group started coverage on First Interstate BancSystem in a research report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price target on the stock. Barclays lifted their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. DA Davidson reissued a “buy” rating and set a $42.00 target price on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Finally, Piper Sandler cut their price target on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $36.14.

First Interstate BancSystem Trading Up 0.5 %

Shares of NASDAQ FIBK opened at $30.70 on Friday. The stock has a market cap of $3.21 billion, a P/E ratio of 14.02 and a beta of 0.85. The firm has a 50 day moving average price of $32.23 and a two-hundred day moving average price of $31.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem, Inc. has a 52-week low of $24.16 and a 52-week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. As a group, equities analysts forecast that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 6.12%. First Interstate BancSystem’s payout ratio is currently 85.84%.

Insiders Place Their Bets

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’s stock in a transaction dated 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 $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.90% of the company’s stock.

About First Interstate BancSystem

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.