Alliancebernstein L.P. grew its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 31.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,424 shares of the financial services provider’s stock after acquiring an additional 10,424 shares during the period. Alliancebernstein L.P. owned about 0.08% of First Interstate BancSystem worth $1,615,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Granite Investment Partners LLC grew its stake in shares of First Interstate BancSystem by 0.4% in the second quarter. Granite Investment Partners LLC now owns 29,273 shares of the financial services provider’s stock worth $1,089,000 after acquiring an additional 113 shares in the last quarter. Sei Investments Co. grew its stake in shares of First Interstate BancSystem by 5.6% in the first quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 168 shares in the last quarter. Wrapmanager Inc. grew its stake in shares of First Interstate BancSystem by 3.6% in the second quarter. Wrapmanager Inc. now owns 6,322 shares of the financial services provider’s stock worth $235,000 after acquiring an additional 217 shares in the last quarter. American Century Companies Inc. grew its stake in shares of First Interstate BancSystem by 0.7% in the second quarter. American Century Companies Inc. now owns 61,791 shares of the financial services provider’s stock worth $2,299,000 after acquiring an additional 414 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of First Interstate BancSystem by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,297 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 432 shares in the last quarter. Institutional investors and hedge funds own 44.85% of the company’s stock.

First Interstate BancSystem, Inc. (NASDAQ FIBK) opened at 38.80 on Friday. The company’s 50 day moving average is $36.99 and its 200-day moving average is $37.03. The firm has a market cap of $2.19 billion, a P/E ratio of 18.77 and a beta of 1.17. First Interstate BancSystem, Inc. has a 52 week low of $30.70 and a 52 week high of $45.35.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. The business had revenue of $116.50 million during the quarter, compared to analyst estimates of $119.97 million. First Interstate BancSystem had a net margin of 21.08% and a return on equity of 9.44%. Equities analysts expect that First Interstate BancSystem, Inc. will post $2.29 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Monday, October 30th. First Interstate BancSystem’s payout ratio is 46.38%.

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Several equities analysts have commented on FIBK shares. BidaskClub downgraded shares of First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Barclays PLC set a $43.00 price target on shares of First Interstate BancSystem and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Finally, ValuEngine downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. 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. First Interstate BancSystem currently has an average rating of “Hold” and an average target price of $42.50.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.

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

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