Rhumbline Advisers Grows Stock Position in First Interstate Bancsystem Inc (NASDAQ:FIBK)

Rhumbline Advisers raised its holdings in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 5.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 73,635 shares of the financial services provider’s stock after acquiring an additional 3,911 shares during the quarter. Rhumbline Advisers’ holdings in First Interstate Bancsystem were worth $2,963,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in shares of First Interstate Bancsystem in the second quarter valued at about $83,000. Baker Ellis Asset Management LLC acquired a new position in shares of First Interstate Bancsystem in the second quarter valued at about $135,000. Bank of Montreal Can increased its holdings in shares of First Interstate Bancsystem by 191.2% in the second quarter. Bank of Montreal Can now owns 4,744 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 3,115 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of First Interstate Bancsystem by 94.3% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,051 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 2,451 shares during the period. Finally, Pinkerton Retirement Specialists LLC acquired a new position in shares of First Interstate Bancsystem in the second quarter valued at about $204,000. Institutional investors own 49.05% of the company’s stock.

A number of brokerages have recently weighed in on FIBK. Zacks Investment Research raised First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. BidaskClub raised First Interstate Bancsystem from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Finally, ValuEngine raised First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.48.

In related news, Director Ross E. Leckie sold 1,219 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $39.27, for a total transaction of $47,870.13. Following the sale, the director now directly owns 17,027 shares of the company’s stock, valued at $668,650.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Scott, Jr. sold 3,778 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.63, for a total value of $164,834.14. Following the sale, the director now directly owns 44,543 shares in the company, valued at $1,943,411.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,297 shares of company stock worth $390,489. 24.93% of the stock is owned by corporate insiders.

First Interstate Bancsystem stock traded up $0.21 during midday trading on Tuesday, hitting $42.73. 1,889 shares of the company were exchanged, compared to its average volume of 202,426. The firm has a market capitalization of $2.79 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. First Interstate Bancsystem Inc has a fifty-two week low of $34.61 and a fifty-two week high of $43.97. The business has a fifty day simple moving average of $41.44 and a two-hundred day simple moving average of $39.86. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.82 and a current ratio of 0.82.

First Interstate Bancsystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.03). The company had revenue of $166.30 million for the quarter, compared to analyst estimates of $167.38 million. First Interstate Bancsystem had a return on equity of 10.21% and a net margin of 24.33%. As a group, equities analysts expect that First Interstate Bancsystem Inc will post 3.05 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Saturday, November 9th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.90%. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, November 7th. First Interstate Bancsystem’s dividend payout ratio (DPR) is 42.47%.

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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