California State Teachers Retirement System boosted its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 17.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,492 shares of the financial services provider’s stock after acquiring an additional 6,652 shares during the quarter. California State Teachers Retirement System owned about 0.08% of First Interstate BancSystem worth $1,692,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in First Interstate BancSystem by 622.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 2,559 shares during the last quarter. Quantbot Technologies LP increased its stake in First Interstate BancSystem by 955.6% during the second quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 2,733 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in First Interstate BancSystem during the second quarter worth $142,000. Victory Capital Management Inc. increased its stake in First Interstate BancSystem by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 680 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in First Interstate BancSystem by 38.3% during the second quarter. Great West Life Assurance Co. Can now owns 4,611 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 1,278 shares during the last quarter. 46.07% of the stock is owned by institutional investors.

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Shares of First Interstate BancSystem, Inc. (FIBK) opened at $37.90 on Friday. First Interstate BancSystem, Inc. has a one year low of $33.33 and a one year high of $45.35. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2,119.47, a price-to-earnings ratio of 16.25, a PEG ratio of 1.78 and a beta of 1.19.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st were paid a $0.24 dividend. The ex-dividend date was Monday, October 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.53%. First Interstate BancSystem’s payout ratio is presently 48.24%.

FIBK has been the subject of several recent analyst reports. BidaskClub cut First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Zacks Investment Research raised First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Wednesday, November 1st. Barclays PLC set a $43.00 price objective on First Interstate BancSystem and gave the company a “buy” rating in a research note on Wednesday, October 11th. Finally, ValuEngine cut First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $43.25.

In other news, Director Ross E. Leckie sold 1,500 shares of First Interstate BancSystem stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $38.85, for a total value of $58,275.00. Following the completion of the sale, the director now directly owns 23,028 shares of the company’s stock, valued at $894,637.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan R. Scott sold 25,000 shares of First Interstate BancSystem stock in a transaction on Friday, November 10th. The shares were sold at an average price of $36.81, for a total value of $920,250.00. Following the completion of the sale, the director now directly owns 5,556 shares of the company’s stock, valued at $204,516.36. The disclosure for this sale can be found here. Insiders sold 52,357 shares of company stock valued at $1,941,627 over the last ninety days. Insiders own 38.22% of the company’s stock.

First Interstate BancSystem Profile

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.

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

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