Dimensional Fund Advisors LP Purchases 163,930 Shares of First Interstate BancSystem, Inc. $FIBK

Dimensional Fund Advisors LP lifted its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,209,671 shares of the financial services provider’s stock after purchasing an additional 163,930 shares during the period. Dimensional Fund Advisors LP owned about 4.98% of First Interstate BancSystem worth $149,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. First Interstate Bank increased its holdings in First Interstate BancSystem by 14.1% during the first quarter. First Interstate Bank now owns 5,053,342 shares of the financial services provider’s stock valued at $144,778,000 after buying an additional 624,268 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of First Interstate BancSystem by 88.3% during the 4th quarter. Wellington Management Group LLP now owns 2,425,615 shares of the financial services provider’s stock worth $78,760,000 after acquiring an additional 1,137,401 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of First Interstate BancSystem by 36.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,733,162 shares of the financial services provider’s stock valued at $49,655,000 after acquiring an additional 462,866 shares during the period. Nuveen LLC purchased a new stake in shares of First Interstate BancSystem in the 1st quarter worth $32,796,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in First Interstate BancSystem by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,114,913 shares of the financial services provider’s stock worth $31,942,000 after purchasing an additional 8,131 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Monday, August 11th. Keefe, Bruyette & Woods upgraded First Interstate BancSystem from a “hold” rating to a “moderate buy” rating and set a $32.00 price objective for the company in a research note on Monday, June 23rd. Wells Fargo & Company increased their target price on shares of First Interstate BancSystem from $25.00 to $28.00 and gave the stock an “underweight” rating in a report on Thursday, July 10th. Finally, Barclays raised shares of First Interstate BancSystem from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $28.00 to $32.00 in a report on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.43.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 11,818 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $30.18, for a total value of $356,667.24. Following the sale, the director owned 5,224 shares in the company, valued at $157,660.32. The trade was a 69.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $27.86, for a total transaction of $1,532,300.00. Following the transaction, the insider directly owned 529,256 shares of the company’s stock, valued at $14,745,072.16. This trade represents a 9.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,818 shares of company stock worth $3,600,017. Corporate insiders own 8.20% of the company’s stock.

First Interstate BancSystem Stock Up 0.2%

Shares of FIBK opened at $30.22 on Thursday. The business’s 50 day moving average is $29.38 and its 200 day moving average is $28.69. The company has a market capitalization of $3.17 billion, a PE ratio of 13.61 and a beta of 0.83. First Interstate BancSystem, Inc. has a 12-month low of $22.95 and a 12-month high of $36.77. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.19.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.12. The business had revenue of $248.30 million during the quarter, compared to the consensus estimate of $253.73 million. First Interstate BancSystem had a return on equity of 6.82% and a net margin of 16.04%.The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 EPS. Research analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Monday, August 11th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Monday, August 11th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 84.68%.

First Interstate BancSystem 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.