Deutsche Bank AG Invests $3.95 Million in First Interstate BancSystem, Inc. $FIBK

Deutsche Bank AG purchased a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 102,340 shares of the financial services provider’s stock, valued at approximately $3,946,000.

Other institutional investors also recently bought and sold shares of the company. Rice Hall James & Associates LLC bought a new stake in First Interstate BancSystem during the 2nd quarter valued at about $3,853,000. Global Retirement Partners LLC bought a new position in shares of First Interstate BancSystem in the second quarter worth approximately $98,000. Bank of New York Mellon Corp bought a new position in shares of First Interstate BancSystem in the second quarter worth approximately $38,663,000. McIlrath & Eck LLC grew its holdings in shares of First Interstate BancSystem by 17.2% during the first quarter. McIlrath & Eck LLC now owns 9,963 shares of the financial services provider’s stock valued at $333,000 after buying an additional 1,461 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of First Interstate BancSystem by 1.4% during the first quarter. Bank of America Corp DE now owns 1,778,094 shares of the financial services provider’s stock valued at $59,388,000 after buying an additional 24,250 shares during the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.97, for a total value of $539,550.00. Following the transaction, the insider directly owned 488,359 shares of the company’s stock, valued at approximately $17,566,273.23. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Jonathan R. Scott sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $36.29, for a total value of $163,305.00. Following the completion of the transaction, the insider directly owned 862,128 shares in the company, valued at $31,286,625.12. The trade was a 0.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 32,392 shares of company stock valued at $1,161,552. 8.00% of the stock is owned by company insiders.

First Interstate BancSystem Trading Down 0.5%

Shares of FIBK stock opened at $37.06 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.09. First Interstate BancSystem, Inc. has a 12-month low of $29.10 and a 12-month high of $40.60. The stock has a market capitalization of $3.53 billion, a P/E ratio of 11.40 and a beta of 0.76. The firm’s 50 day moving average is $38.24 and its 200 day moving average is $36.19.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.18. The business had revenue of $263.90 million during the quarter, compared to analyst estimates of $249.32 million. First Interstate BancSystem had a net margin of 23.63% and a return on equity of 9.55%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS. Research analysts expect that First Interstate BancSystem, Inc. will post 2.84 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Tuesday, August 4th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.1%. First Interstate BancSystem’s payout ratio is presently 57.85%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FIBK shares. Weiss Ratings upgraded shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Wells Fargo & Company reissued an “underweight” rating and issued a $34.00 target price (down from $36.00) on shares of First Interstate BancSystem in a report on Monday, August 10th. DA Davidson restated a “neutral” rating and issued a $39.00 price target on shares of First Interstate BancSystem in a research note on Monday, July 27th. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Monday, June 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $37.00 price objective (down from $38.00) on shares of First Interstate BancSystem in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $36.83.

First Interstate BancSystem Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.