First Interstate Bank raised its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 27.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,944 shares of the financial services provider’s stock after acquiring an additional 34,697 shares during the quarter. First Interstate BancSystem makes up 1.3% of First Interstate Bank’s portfolio, making the stock its 29th largest holding. First Interstate Bank owned 0.28% of First Interstate BancSystem worth $6,118,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Granite Investment Partners LLC lifted its stake in shares of First Interstate BancSystem by 0.4% during the 2nd quarter. Granite Investment Partners LLC now owns 29,273 shares of the financial services provider’s stock valued at $1,089,000 after buying an additional 113 shares in the last quarter. Wrapmanager Inc. lifted its stake in shares of First Interstate BancSystem by 3.6% during the 2nd quarter. Wrapmanager Inc. now owns 6,322 shares of the financial services provider’s stock valued at $235,000 after buying an additional 217 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of First Interstate BancSystem by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 61,791 shares of the financial services provider’s stock valued at $2,299,000 after buying an additional 414 shares in the last quarter. Victory Capital Management Inc. lifted its stake 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 valued at $169,000 after buying an additional 680 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of First Interstate BancSystem by 5.0% during the 2nd quarter. Federated Investors Inc. PA now owns 16,337 shares of the financial services provider’s stock valued at $608,000 after buying an additional 775 shares in the last quarter. Institutional investors and hedge funds own 46.41% of the company’s stock.

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) traded up $0.40 during midday trading on Tuesday, reaching $38.30. 132,000 shares of the company’s stock were exchanged, compared to its average volume of 222,951. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $2,139.65, a P/E ratio of 16.41, a P/E/G ratio of 1.79 and a beta of 1.19. First Interstate BancSystem, Inc. has a one year low of $33.33 and a one year high of $45.35.

The business also recently declared a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.96 dividend on an annualized basis and a yield of 2.51%. First Interstate BancSystem’s dividend payout ratio is currently 48.24%.

FIBK has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, August 1st. Barclays PLC set a $43.00 target price on shares of First Interstate BancSystem and gave the company a “buy” rating in a research note on Wednesday, October 11th. ValuEngine cut shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, BidaskClub cut shares of First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $43.25.

In other First Interstate BancSystem news, Director Ross E. Leckie sold 1,500 shares of First Interstate BancSystem stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $38.85, for a total value of $58,275.00. Following the sale, the director now directly owns 23,028 shares in the company, valued at approximately $894,637.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan R. Scott sold 25,000 shares of First Interstate BancSystem stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $37.33, for a total transaction of $933,250.00. Following the completion of the sale, the director now owns 5,556 shares in the company, valued at $207,405.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,357 shares of company stock worth $2,885,627. 38.22% of the stock is currently owned by insiders.

WARNING: “First Interstate Bank Has $6.12 Million Stake in First Interstate BancSystem, Inc. (FIBK)” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/11/21/first-interstate-bank-has-6-12-million-stake-in-first-interstate-bancsystem-inc-fibk.html.

First Interstate BancSystem Company 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)

Receive News & Stock Ratings for First Interstate BancSystem Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Interstate BancSystem Inc. and related stocks with our FREE daily email newsletter.