Rice Hall James & Associates LLC Takes $2.47 Million Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Rice Hall James & Associates LLC acquired a new stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 86,085 shares of the financial services provider’s stock, valued at approximately $2,466,000. Rice Hall James & Associates LLC owned approximately 0.08% of First Interstate BancSystem as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of First Interstate BancSystem by 6.8% in the fourth quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider’s stock valued at $299,691,000 after acquiring an additional 587,975 shares in the last quarter. FMR LLC lifted its position in shares of First Interstate BancSystem by 35.5% in the fourth quarter. FMR LLC now owns 6,786,334 shares of the financial services provider’s stock valued at $220,352,000 after acquiring an additional 1,778,269 shares in the last quarter. Franklin Resources Inc. lifted its position in First Interstate BancSystem by 2.7% during the fourth quarter. Franklin Resources Inc. now owns 5,474,757 shares of the financial services provider’s stock worth $177,765,000 after buying an additional 145,842 shares during the period. First Interstate Bank lifted its position 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 worth $144,778,000 after buying an additional 624,268 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in First Interstate BancSystem by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,045,741 shares of the financial services provider’s stock worth $163,836,000 after buying an additional 138,050 shares during the period. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

First Interstate BancSystem Stock Performance

Shares of NASDAQ:FIBK opened at $31.30 on Tuesday. The firm has a market capitalization of $3.28 billion, a PE ratio of 14.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50-day moving average of $27.92 and a two-hundred day moving average of $29.12. First Interstate BancSystem, Inc. has a 12 month low of $22.95 and a 12 month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.49 EPS 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 analyst estimates of $253.50 million. First Interstate BancSystem had a return on equity of 6.57% and a net margin of 14.93%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share. As a group, research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.01%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 89.10%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wall Street Zen upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Saturday, May 10th. Barclays upgraded First Interstate BancSystem from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $28.00 to $32.00 in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods upgraded First Interstate BancSystem from a “hold” rating to a “moderate buy” rating and set a $32.00 target price on the stock in a research report on Monday, June 23rd. Finally, Wells Fargo & Company increased their target price on First Interstate BancSystem from $25.00 to $28.00 and gave the stock an “underweight” rating in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, First Interstate BancSystem presently has a consensus rating of “Hold” and an average price target of $35.43.

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.