Ceredex Value Advisors LLC decreased its holdings in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 5.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 591,781 shares of the financial services provider’s stock after selling 31,802 shares during the period. Ceredex Value Advisors LLC’s holdings in First Interstate Bancsystem were worth $26,512,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Macquarie Group Ltd. grew its stake in shares of First Interstate Bancsystem by 9.7% during the second quarter. Macquarie Group Ltd. now owns 2,740,156 shares of the financial services provider’s stock worth $115,634,000 after acquiring an additional 241,717 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of First Interstate Bancsystem by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 2,525,997 shares of the financial services provider’s stock worth $106,597,000 after acquiring an additional 87,106 shares during the last quarter. BlackRock Inc. grew its stake in shares of First Interstate Bancsystem by 22.5% during the second quarter. BlackRock Inc. now owns 2,055,836 shares of the financial services provider’s stock worth $86,756,000 after acquiring an additional 377,376 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of First Interstate Bancsystem by 3.0% during the third quarter. JPMorgan Chase & Co. now owns 1,638,409 shares of the financial services provider’s stock worth $73,401,000 after acquiring an additional 47,677 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of First Interstate Bancsystem by 17.5% during the second quarter. Millennium Management LLC now owns 1,087,515 shares of the financial services provider’s stock worth $45,893,000 after acquiring an additional 161,679 shares during the last quarter. Institutional investors and hedge funds own 50.74% of the company’s stock.

In related news, Director Ross E. Leckie sold 4,000 shares of First Interstate Bancsystem stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $45.91, for a total transaction of $183,640.00. Following the completion of the sale, the director now owns 17,599 shares of the company’s stock, valued at $807,970.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin P. Riley bought 975 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were purchased at an average cost of $41.78 per share, with a total value of $40,735.50. The disclosure for this purchase can be found here. Insiders have sold 7,000 shares of company stock valued at $300,210 in the last ninety days. Corporate insiders own 40.23% of the company’s stock.

FIBK has been the topic of a number of research analyst reports. BidaskClub lowered First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Robert W. Baird assumed coverage on First Interstate Bancsystem in a report on Tuesday, October 16th. They set an “outperform” rating and a $52.00 target price for the company. Zacks Investment Research downgraded First Interstate Bancsystem from a “hold” rating to a “sell” rating in a report on Friday, October 12th. DA Davidson lifted their target price on First Interstate Bancsystem from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, October 12th. Finally, Barclays reaffirmed a “buy” rating and set a $48.00 target price on shares of First Interstate Bancsystem in a report on Sunday, July 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. First Interstate Bancsystem has an average rating of “Hold” and an average target price of $48.33.

First Interstate Bancsystem stock opened at $43.11 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.82 and a quick ratio of 0.82. First Interstate Bancsystem Inc has a 52 week low of $36.90 and a 52 week high of $47.05. The stock has a market cap of $2.43 billion, a P/E ratio of 15.61, a PEG ratio of 1.62 and a beta of 1.10.

First Interstate Bancsystem (NASDAQ:FIBK) last released its earnings results on Wednesday, October 24th. The financial services provider reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.04). First Interstate Bancsystem had a return on equity of 10.49% and a net margin of 25.82%. The firm had revenue of $146.20 million for the quarter, compared to analyst estimates of $144.93 million. On average, equities analysts anticipate that First Interstate Bancsystem Inc will post 2.93 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Friday, November 9th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, November 8th. First Interstate Bancsystem’s dividend payout ratio (DPR) is 55.72%.

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About First Interstate Bancsystem

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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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

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