First Interstate BancSystem (FIBK) Stake Increased by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC lifted its stake in shares of First Interstate BancSystem (NASDAQ:FIBK) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 176,575 shares of the financial services provider’s stock after buying an additional 13,120 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.31% of First Interstate BancSystem worth $7,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FIBK. SG Americas Securities LLC acquired a new stake in shares of First Interstate BancSystem during the 3rd quarter worth approximately $105,000. Wells Fargo & Company MN grew its position in shares of First Interstate BancSystem by 17.3% during the 3rd quarter. Wells Fargo & Company MN now owns 129,842 shares of the financial services provider’s stock worth $4,967,000 after buying an additional 19,174 shares during the period. Dimensional Fund Advisors LP grew its position in shares of First Interstate BancSystem by 5.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,309,818 shares of the financial services provider’s stock worth $88,349,000 after buying an additional 111,928 shares during the period. Stifel Financial Corp acquired a new stake in shares of First Interstate BancSystem during the 3rd quarter worth approximately $200,000. Finally, GSA Capital Partners LLP grew its position in shares of First Interstate BancSystem by 58.3% during the 3rd quarter. GSA Capital Partners LLP now owns 39,845 shares of the financial services provider’s stock worth $1,524,000 after buying an additional 14,676 shares during the period. 46.08% of the stock is owned by institutional investors.

Shares of FIBK opened at $39.50 on Friday. First Interstate BancSystem has a 12-month low of $33.33 and a 12-month high of $42.90. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2,262.30, a P/E ratio of 17.34, a PEG ratio of 1.50 and a beta of 1.11.



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

In other First Interstate BancSystem news, insider Philip G. Gaglia sold 972 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $41.03, for a total transaction of $39,881.16. Following the transaction, the insider now directly owns 7,544 shares in the company, valued at approximately $309,530.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Thomas W. Scott sold 250,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $39.50, for a total value of $9,875,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,050 shares of company stock worth $10,643,897. 40.23% of the stock is owned by company insiders.

FIBK has been the topic of a number of recent research reports. Piper Jaffray reiterated a “buy” rating on shares of First Interstate BancSystem in a report on Wednesday, January 31st. Zacks Investment Research cut First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Monday, March 12th. BidaskClub upgraded First Interstate BancSystem from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. Barclays increased their target price on First Interstate BancSystem from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $45.00 target price on shares of First Interstate BancSystem in a report on Friday, December 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $45.00.

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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.

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

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