First Interstate BancSystem (FIBK) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. reduced its stake in shares of First Interstate BancSystem (NASDAQ:FIBK) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,776 shares of the financial services provider’s stock after selling 12,496 shares during the quarter. Goldman Sachs Group Inc. owned about 0.13% of First Interstate BancSystem worth $3,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FIBK. BNP Paribas Arbitrage SA grew its stake in shares of First Interstate BancSystem by 116.1% during the third quarter. BNP Paribas Arbitrage SA now owns 6,417 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 3,447 shares during the last quarter. SG Americas Securities LLC bought a new position in First Interstate BancSystem in the third quarter valued at approximately $105,000. Wells Fargo & Company MN boosted its stake in First Interstate BancSystem by 17.3% in the third quarter. Wells Fargo & Company MN now owns 129,842 shares of the financial services provider’s stock valued at $4,967,000 after acquiring an additional 19,174 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in First Interstate BancSystem by 5.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,309,818 shares of the financial services provider’s stock valued at $88,349,000 after acquiring an additional 111,928 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in First Interstate BancSystem in the third quarter valued at approximately $200,000. 46.08% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on FIBK shares. Piper Jaffray reaffirmed a “buy” rating on shares of First Interstate BancSystem in a research note on Wednesday, January 31st. BidaskClub raised shares of First Interstate BancSystem from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Sandler O’Neill reaffirmed a “buy” rating and issued a $46.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, March 29th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $45.00 price objective on shares of First Interstate BancSystem in a research note on Friday, December 22nd. Finally, Zacks Investment Research cut shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.00.



In other news, CEO Kevin P. Riley purchased 800 shares of First Interstate BancSystem stock in a transaction dated Monday, February 5th. The shares were bought at an average cost of $41.34 per share, with a total value of $33,072.00. Following the completion of the transaction, the chief executive officer now directly owns 28,349 shares in the company, valued at approximately $1,171,947.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Thomas W. Scott sold 250,000 shares of First Interstate BancSystem stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $39.50, for a total transaction of $9,875,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,050 shares of company stock worth $10,643,897. Insiders own 40.23% of the company’s stock.

Shares of FIBK stock opened at $40.05 on Friday. First Interstate BancSystem has a 52-week low of $33.33 and a 52-week high of $42.90. The company has a market capitalization of $2,251.01, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.08). The firm had revenue of $138.03 million for the quarter, compared to the consensus estimate of $138.00 million. First Interstate BancSystem had a return on equity of 9.10% and a net margin of 20.50%. equities analysts anticipate that First Interstate BancSystem will post 2.96 earnings per share for the current year.

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

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

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