Swiss National Bank increased its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 31.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,383 shares of the financial services provider’s stock after purchasing an additional 10,683 shares during the period. Swiss National Bank owned 0.08% of First Interstate BancSystem worth $1,651,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its position in shares of First Interstate BancSystem by 622.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 2,559 shares during the last quarter. Sei Investments Co. raised its position in shares of First Interstate BancSystem by 5.6% during the 1st quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 168 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of First Interstate BancSystem by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 680 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of First Interstate BancSystem by 38.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 4,611 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of First Interstate BancSystem during the 1st quarter worth approximately $216,000. Hedge funds and other institutional investors own 44.85% of the company’s stock.

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Several research analysts recently issued reports on FIBK shares. Zacks Investment Research downgraded First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. ValuEngine cut shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. BidaskClub cut shares of First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $41.00 target price on shares of First Interstate BancSystem in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. First Interstate BancSystem presently has an average rating of “Hold” and an average target price of $42.00.

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) opened at 38.20 on Monday. The stock has a market capitalization of $2.16 billion, a PE ratio of 18.48 and a beta of 1.17. First Interstate BancSystem, Inc. has a 1-year low of $30.70 and a 1-year high of $45.35. The firm has a 50-day moving average of $36.14 and a 200 day moving average of $37.09.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The business had revenue of $116.50 million during the quarter, compared to the consensus estimate of $119.97 million. First Interstate BancSystem had a net margin of 21.08% and a return on equity of 9.44%. On average, equities analysts anticipate that First Interstate BancSystem, Inc. will post $2.29 earnings per share for the current fiscal year.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.

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Institutional Ownership by Quarter for First Interstate BancSystem (NASDAQ:FIBK)

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